As a retired federal employee, I have been receiving Medicare Part A for almost six years now. My wife and I currently have BCBS Standard (106) as our health insurance plan, but I am considering switching to GEHA High (313) in an effort to save money. Before making the switch, I want to make sure that this is a simple process and that there are no hidden fees or requirements that I may be missing.
One of the benefits of the Federal Employees Health Benefits program is its flexibility, allowing retirees to switch from one plan to another during the annual Open Enrollment season. This means that if I decide not to like GEHA, I can easily switch back to BCBS. However, it’s worth noting that according to NARFE, the National Active and Retiree Employees Association, most retirees don’t enroll in Part B because they already have adequate coverage through their FEHB plans and Medicare Part A.
Reg Jones, a charter member of the senior executive service and resident expert on retirement and the federal government at Federal Times, has reported on this topic extensively. He suggests that retirees should carefully consider their options before making any changes to their health insurance plan during Open Enrollment season. It’s important to review your current plan’s benefits and costs, as well as any potential changes or limitations that may apply when switching plans. Additionally, Jones advises consulting with a financial advisor or insurance professional who specializes in retirement planning before making any major decisions about your healthcare coverage.
If you have any questions about your health insurance options or retirement planning, you can reach out to Reg Jones directly at [firstname.lastname@example.org](mailto:email@example.com).