Money-Saving Medicare Tips (by Tammy Flanigan)
Last week, we looked at the rising costs of Medicare Part B insurance, which helps cover doctors’ services and outpatient care. Many federal employees and retirees are wondering whether they need to sign up for the increasingly expensive Part B, since they typically already carry Federal Employee Health Benefits Program coverage into retirement.
Let’s look at some specific Medicare-related questions I’ve received lately that may provide insight into how you could save some money on health costs.
I have Medicare A and B and I did not sign up for Kaiser’s Senior Advantage for FEHBP members. I have high option with Kaiser, but I am thinking of dropping to the standard self-only plan, which is about $65 less a month (this will vary depending on what part of the country you live in). Medicare B is getting so expensive, and I am not on Social Security so they can keep increasing my rates like crazy. This would provide a big savings that I could contribute to paying my Medicare premium.
