fbpx

2022 FEHB Plan Selection Guide

Posted on Friday, 5th November 2021 by Dennis Damp

Share

Open season runs from November 8th through December 13th.  There are tools available to evaluate provider options, select your 2022 plan, and submit changes to OPM. Use the following resources to make an informed decision for you and your family’s health care needs. Forward this article to others that can use this “Open Season” information. […]

Posted in

| Comments (0)

2022 FEHB Open Season Advice

Posted on Friday, 29th October 2021 by Dennis Damp

Share

There are many things to consider when reviewing your FEHB health care plans during open season.  Plan premiums and benefits change year to year. Without a thorough review and comparison between plans you could unintentionally pass up a better deal.  I know this firsthand, as a federal employee for 36 years and a retiree these […]

Posted in

| Comments (2)

2022 COLA Announced and Annuity Projection Calculator

Posted on Wednesday, 13th October 2021 by Dennis Damp

Share

I reported in mid-September that the 2022 COLA was projected to be close to 6% or more. The Social Security Administration announced a 5.9% COLA increase on October 13th for 2022. CSRS annuitants will receive the full 5.9% this year while FERS annuitants will receive 4.9%, still a hefty increase from last year’s 1.3%. View […]

Posted in

| Comments (2)

Deciding When To Retire – Use this 7-Step Guide

Posted on Friday, 3rd September 2021 by Dennis Damp

Share

When can I retire? A question asked often by those approaching retirement age and by those early in their career who have the foresight to think ahead. It isn’t as simple a decision as reaching your eligibility date, especially if you haven’t prepared early in your career to have the assets necessary to make this […]

Posted in

| Comments (0)

Annuity Expectations – Before and After

Posted on Friday, 6th August 2021 by Dennis Damp

Share

Your annuity, a defined benefit retirement plan, is determined by the retirement system that you are in, either the Federal Employees Retirement System (FERS) or the Civil Service Retirement System (CSRS). Approximately 2 percent of current federal employees are under the old CSRS / CSRS Offset system, the FERS program was established in the 1980s. […]

Posted in

| Comments (0)

Unexpected Health Care Costs

Posted on Friday, 9th July 2021 by Dennis Damp

Share

One of our subscribers was blindsided by an unexpected FEHB plan copayment after reaching age 65.  His copayment for a wellness visit increased from $30 previously to $170 and his FEHB provider stated that they only pay after 65 for what Medicare would pay even if you aren’t enrolled in Medicare. Under the FEHB law, […]

Posted in

| Comments (2)

Maximize Retirement Income & TSP Changes

Posted on Friday, 25th June 2021 by Dennis Damp

Share

Earlier this year the Thrift Savings Plan (TSP) launched a redesigned website. Concurrently, they announced significant account access and security changes, additional L Fund options, and the ability to submit certain TSP forms online after logging into your account. They sent out a message from the executive director to all participants last February announcing these […]

Posted in

| Comments (2)

2022 COLA Projections and Prescription Tip

Posted on Wednesday, 21st April 2021 by Dennis Damp

Share

We can expect a higher COLA increase for 2022. According to Kiplinger’s Magazine the 2022 COLA will Likely increase to 3%, the largest increase since 2012. The final number will be released this October.  There are many variables in the annual COLA calculation and these can change dramatically before the final numbers are tabulated. Request […]

Posted in

| Comments (0)

Terms Of Use