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Old 09-19-2017, 09:43 PM
 
1,183 posts, read 759,580 times
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Quote:
Originally Posted by selhars View Post
I don't think WEP will affect me.

Not hired yet. In the line of a long process, though. So preparing, should it come through.

My dilemma: do I leave a job I might enjoy more....for the gov't job (if I get it)
So this is part of deciding how much weight to give "column A" vs. "column B"....the plusses and minuses of my options.

Eight years in my book is short term. But it can seem longer if you don't enjoy what you're doing.
I guess I'd just have to keep my eyes on the prize. When I think, "I hate this job"...follow that thought right up with...."yeah, but you're doing this for the end game of the retiree benefits." Look in the mirror and tell myself:" You can do this."
one thing to keep in mind is any of the benefits can be taken away at any time. just because it's there now doesn't mean it will be when you hit retirement age.

i have a gut feeling, based on absolutely no facts, that federal retirees are going to, at some point, be forced off FEHB and into medicare, maybe with some subsidy to purchase whatever other parts they might need. but that's just me.
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Old 09-19-2017, 09:48 PM
 
6,875 posts, read 7,270,643 times
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But maybe any changes will be grandfathered.
Just get close enough to the finish line and maybe you'll make it in under the wire.
But you're right. Is there any guarantee of that? Ultimately, no.
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Old 09-19-2017, 11:23 PM
 
Location: Wasilla, AK
7,233 posts, read 4,123,924 times
Reputation: 15545
Quote:
Originally Posted by selhars View Post
I don't think WEP will affect me.

Not hired yet. In the line of a long process, though. So preparing, should it come through.

My dilemma: do I leave a job I might enjoy more....for the gov't job (if I get it)
So this is part of deciding how much weight to give "column A" vs. "column B"....the plusses and minuses of my options.

Eight years in my book is short term. But it can seem longer if you don't enjoy what you're doing.
I guess I'd just have to keep my eyes on the prize. When I think, "I hate this job"...follow that thought right up with...."yeah, but you're doing this for the end game of the retiree benefits." Look in the mirror and tell myself:" You can do this."
WEP will only affect you if you don't have 30 years of "substantial earnings".
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Old 09-20-2017, 12:05 AM
 
6,875 posts, read 7,270,643 times
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Been working more than 40 years...but what's "substantial?" Just working full time..... OR working and making at least xx.xx amount of money?
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Old 09-20-2017, 12:51 AM
 
Location: Wasilla, AK
7,233 posts, read 4,123,924 times
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Quote:
Originally Posted by selhars View Post
Been working more than 40 years...but what's "substantial?" Just working full time..... OR working and making at least xx.xx amount of money?
Google it. There is a chart that shows how much income you had to have each year in order to meet the test. You match it up against the statement SSA sends you, or used to send you, that shows how much income you had each year you worked.
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Old 09-20-2017, 06:16 AM
 
2,670 posts, read 1,536,269 times
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This table will tell you what the value of FEHB is today: https://www.opm.gov/healthcare-insur...postal-ffs.pdf.

With a relatively low paying job like you're looking at, you might be writing a check to the feds for part of the insurance cost, especially if you have spousal coverage. 36,000 x 0.07 = $2520/year or $210/month. BCBS standard (the one that coordinates with Medicare) is $229.64/month. Plan to write checks?
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Old 09-20-2017, 07:45 AM
 
1,183 posts, read 759,580 times
Reputation: 3403
Quote:
Originally Posted by selhars View Post
But maybe any changes will be grandfathered.
Just get close enough to the finish line and maybe you'll make it in under the wire.
But you're right. Is there any guarantee of that? Ultimately, no.
maybe. the things grandfathered usually have to do with things like retirement planning. it would be inherently unfair to folks who had planned their retirement one way to have the rug pulled out from under them leaving them financially unstable.

healthcare-they'll just push everyone to medicare like private employers. no biggie. see: post office retirees (still can carry FEHB but required to enroll in part b i believe, or it's coming soon. step 1? maybe.)
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Old 09-20-2017, 07:48 AM
 
8,181 posts, read 11,902,987 times
Reputation: 17929
Quote:
Originally Posted by selhars View Post
I don't think WEP will affect me.

Not hired yet. In the line of a long process, though. So preparing, should it come through.

My dilemma: do I leave a job I might enjoy more....for the gov't job (if I get it)
So this is part of deciding how much weight to give "column A" vs. "column B"....the plusses and minuses of my options.

Eight years in my book is short term. But it can seem longer if you don't enjoy what you're doing.
I guess I'd just have to keep my eyes on the prize. When I think, "I hate this job"...follow that thought right up with...."yeah, but you're doing this for the end game of the retiree benefits." Look in the mirror and tell myself:" You can do this."
I'm confused.

If you're 57 now and plan to work 8 years until you're 65, then what is your interest in the Federal Health Benefits Program for retirement? At 65, having an FEHB plan is really no different than any other Medicare supplementary plan (unless you choose not to participate in Medicare Part B). IOW, (with few exceptions depending upon the FEHB plan) it's basically going to take care of the 20% of charges that Medicare doesn't pay. The big advantage of FEHBP is that a federal employee can retire earlier than 65 (I retired at 54) and have guaranteed health insurance until Medicare kicks in. It really makes no sense to take a job that you're going to hate for 8 years just to get federal health benefits when you'll be eligible for Medicare at retirement anyway.

Now, if you were taking the job in order to qualify for a pension, that would be different; but then again, that still makes this thread irrelevant.
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Old 09-20-2017, 08:18 AM
 
2,670 posts, read 1,536,269 times
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Quote:
Originally Posted by old fed View Post
healthcare-they'll just push everyone to medicare like private employers. no biggie. see: post office retirees (still can carry FEHB but required to enroll in part b i believe, or it's coming soon. step 1? maybe.)
Push to medicare? The pressure is already there. Medicare Part A is free for most people - a no brainer. Most FEHB plans push Part B hard in the form of eliminating co-pays and deductibles.

Quote:
Originally Posted by MadManofBethesda View Post
I'm confused.
At 65, having an FEHB plan is really no different than any other Medicare supplementary plan (unless you choose not to participate in Medicare Part B). IOW, (with exceptions depending upon the FEHB plan) it's basically going to take care of the 20% of charges that Medicare doesn't pay.
It's a bit more complicated than this, depending on the terms of the FEHB plan. First, it is not supplementary to Medicare, so often the plans pay for things not covered by Medicare. Second, it is also Part D equivalent, but with no "donut hole". Third, you often get coverage for emergencies outside the US. Fourth, you may have coverage with those that don't take medicare assignment.
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Old 09-20-2017, 08:31 AM
 
Location: Wooster, Ohio
1,036 posts, read 785,100 times
Reputation: 1489
Quote:
Originally Posted by old fed View Post
one thing to keep in mind is any of the benefits can be taken away at any time. just because it's there now doesn't mean it will be when you hit retirement age.

i have a gut feeling, based on absolutely no facts, that federal retirees are going to, at some point, be forced off FEHB and into medicare, maybe with some subsidy to purchase whatever other parts they might need. but that's just me.
I would bet on your gut feeling.

When I started under Ohio PERS in 1982, I neither paid into Medicare nor Social Security, and did not earn credits for either one. Employees who started in April 1986 or after, or who changed Ohio PERS employers, pay into Medicare and earn credits. The rest of us were grandfathered out of paying for Medicare.

I retired May 2017 and am now working part-time. I only need 5 quarters of Medicare credits to reach the 40 quarters for full coverage. This will happen before I turn 65. Ohio PERS says they will take care of those of us without Medicare coverage, but I am not willing to bet my future on it, especially when I am so close to getting coverage.

Benefits are subject to change. Ohio PERS is phasing out health care coverage for spouses. If your spouse does not have 40 credits for Medicare coverage, the future will be grim. Whenever someone questions why Ohio PERS is no longer providing health care coverage for spouses, they reply that by law, they are not required to provide heath care coverage to any retirees. Ohio PERS is also phasing out reimbursement for Medicare Part B.

Last edited by mshultz; 09-20-2017 at 08:36 AM.. Reason: Additonal comment about Medicare Part B
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