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Old 05-17-2015, 04:31 AM
 
188 posts, read 170,500 times
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I retired at 48, and held two very satisfying part time jobs that I could do whenever I chose for the next 9 years, and then stopped working completely to take care of family.

I retired on February 28, 2001. That year Ash Wednesday was on March 1, so I gave up work for Lent. We hopped a plane at 6:00 AM for Hawaii on March 1 for 15 days in Hawaii and haven't looked back.
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Old 05-17-2015, 07:08 AM
 
Location: Maryland
282 posts, read 305,751 times
Reputation: 338
Quote:
Originally Posted by saralvr View Post
I worked in the medical field and can tell you that straight MC with a good Medigap plan is the way to go.
Does a Medigap plan replace Medicare Part B? Or are you saying Medicare Part A, buy Part B and buy a Medigap plan?
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Old 05-17-2015, 07:12 AM
 
Location: Maryland
282 posts, read 305,751 times
Reputation: 338
Quote:
Originally Posted by Sandsam View Post
I plan to retire in July the day after I hit the 30 year mark with my company. I will be 54. The only significance of that date is personal satisfaction of reaching 30 years.
What amount of retirement income will come from that company (percent of salary)? Any health insurance benefit in retirement?
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Old 05-17-2015, 07:30 AM
 
672 posts, read 837,449 times
Reputation: 1173
Quote:
Originally Posted by CSRSJim View Post
Does a Medigap plan replace Medicare Part B? Or are you saying Medicare Part A, buy Part B and buy a Medigap plan?

The second part is correct. Medigap pays the 20% after MC. So, buy Part B and then buy a Medigap plan.
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Old 05-17-2015, 07:53 AM
 
Location: Midwest transplant
2,013 posts, read 4,992,585 times
Reputation: 1570
I retired at 57 after 33 years in public education. Reached the point of "enough". Never had children, maxed out TSA's, inherited a small amount of money from parent and in-law estates. No mortgage, no debt. Biggest concern was healthcare costs until I reach 65. Thankfully, husband found a PT job that pays his health benefits and I pay for benefits ($600 mo.) with my former employer until 65. My pension is enough for us to live on, pleasantly and gratefully supplemented with our flexible, rewarding part time work. We're able to take a week or a long weekend trip about every other month. We each take a few days on our own (alone or with friends) to travel throughout the year to pursue individual passions/interests, while the other stays home to mind dogs and house. We dip into savings for home improvements or major purchases.

We lived below our means for all of our working years with the goal of early retirement and giving back. I'll take early SS if/when necessary, otherwise at 66.

I loved my career, it was my identity and my passion. I had planned to work one year longer than I did, but was able to leave on good terms, without regret.
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Old 05-17-2015, 10:43 AM
 
1,820 posts, read 1,315,564 times
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Retired at age 64 and two-thirds. Boarded a plane the following day for Spring Training. Came back for the regular season though.

As for Medicare, the value of it will vary for each individual. You really have to hunker down and figure it out for yourself. What was smart for me might be stupid for you, but with that said, I simply kept my employer health plan and added Medicare A and B. Beyond the premiums, we pay peanuts out of pocket every year and have the security of knowing that medical bills are not going to be a reef that we run aground on.
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Old 05-17-2015, 04:32 PM
 
Location: Cape Elizabeth
424 posts, read 386,960 times
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Quote:
Originally Posted by CSRSJim View Post
Does a Medigap plan replace Medicare Part B? Or are you saying Medicare Part A, buy Part B and buy a Medigap plan?
CSRSJim: I see your name has CSRS as the beginning. Does that mean you are retired under CSRS and have health care under FEHB? If so, you don't need medigap. Your FEHB plan becomes your medigap if you sign up for Medicare A and B. Medicare also becomes primary and FEHB secondary, but covers lots of things Medicare will not, such as coverage worldwide. You also don't need a Part D for RX, since your FEHB plan is for that as well.

You can request that Medicare's premium be deducted from your CSRS pension ck. SSA will do that for you.
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Old 05-17-2015, 04:37 PM
 
Location: Cape Elizabeth
424 posts, read 386,960 times
Reputation: 745
I retired at age 57 after 35 years with SSA. Went back to work 2 short times after that, but no work since 2010.

Moved to Maine to be near my daughter and SIL and now 2 grandsons. Love my life in Maine and feel most fortunate that I have a wonderful retirement, so far (knock on wood)!
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Old 05-17-2015, 04:43 PM
 
Location: R.I.
970 posts, read 603,310 times
Reputation: 4170
Quote:
Originally Posted by ilovemycat View Post
CSRSJim: I see your name has CSRS as the beginning. Does that mean you are retired under CSRS and have health care under FEHB? If so, you don't need medigap. Your FEHB plan becomes your medigap if you sign up for Medicare A and B. Medicare also becomes primary and FEHB secondary, but covers lots of things Medicare will not, such as coverage worldwide. You also don't need a Part D for RX, since your FEHB plan is for that as well.

You can request that Medicare's premium be deducted from your CSRS pension ck. SSA will do that for you.
I have a question about this. If the spouse who is the carrier of the FEHB coverage is still working and below Medicare age but their spouse they carry under the plan is retired and has enrolled in Med A & B, is the primary for the covered spouse Medicare or remains FEHB until the carrier spouse enrolls in Medicare ?
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Old 05-17-2015, 05:43 PM
 
Location: Maryland
282 posts, read 305,751 times
Reputation: 338
Thanks for all that answered my question about Medicare.
Since I paid into Medicare with payroll taxes my entire life (like most), I get Medicare Part A at age 65 at no additional cost.
Since I will be a federal retiree, I can continue to buy my FEHB health insurance in retirement. It is a good deal since I will only have to pay ~25% of the total premiums. Since I will be buying FEHB health insurance, I was wondering if buying additional coverage (Part B or Medigap) makes sense. Until I turn 65 (Medicare), I plan to buy a higher cost FEHB policy. Then when I turn 65, buying Part B and a less expensive FEHB policy to cover what Medicare Parts A & B don't pay for (similar to Medigap).

I was really wondering if others had to buy both Part B and Medigap coverage, or just Medigap.
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