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Flexible Spending Accounts (FSA)

Posted on Sunday, 21st July 2019 by Shawn McCoy

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I would like to welcome Shawn McCoy, President and Founder of Federal Employee Benefits Advocates, LLC (FEBA) an educational and training company, to our guest forum.  Mr. McCoy is an expert on Federal employee benefits and has spoken to over 19,000 Federal employees over the last 10 years.  This is his first of many artilces […]

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A Marriage of Convenience – Medicare & FEHB

Posted on Thursday, 11th July 2019 by Dennis Damp

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Updated 11/11/2024 Many approaching 65 ask, “Why shouldn’t I simply sign up for Medicare A and B and cancel my FEHB plan?” They believe at first glance that Medicare A and B duplicate what our Federal Employees Health Benefits (FEHB) plans provide. I reply to this question many times throughout the year and refer those […]

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FERS Supplement Update – Are You Eligible

Posted on Thursday, 13th June 2019 by Dennis Damp

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There are many things to consider when determining your FERS retirement benefits. If you meet certain requirements, you will receive a Special Retirement Supplement which is paid until you reach age 62. This supplement is similar to the Social Security benefit earned while you were employed by the Federal government. However, since the formula for […]

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Managing Your Required Minimum Distributions (RMDs)

Posted on Saturday, 18th May 2019 by Dennis Damp

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Those approaching age 70 ½ and older are often perplexed about their Thrift Savings Plan RMD withdrawal options and how to efficiently manage the transaction’s proceeds. Some of the concerns are your TSP balance decreases with each withdrawal, annual income and taxes increase, and the earned income potential vanishes for the cash you now have […]

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Time to Sign Up for Social Security!

Posted on Saturday, 27th April 2019 by Dennis Damp

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Most sign up long before age 70 for a myriad of reasons. I decided long ago that I would defer my benefit until I absolutely had to apply. Next month I start collecting Social Security at age 70 and can’t believe the time has come so quickly, yet I look forward to reaching this milestone. […]

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TSP Changes & Required Minimum Distributions (RMDs)

Posted on Monday, 4th March 2019 by Dennis Damp

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The TSP currently requires that you make a full withdrawal election after you turn 70½ if you haven’t initiated any of the withdrawal options and have separated from federal service. If you fail to do that, the TSP initiates an account “abandonment” process. Fortunately, the new law passed in late 2017 establishes more flexible withdrawal […]

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2019 FEHB Plan Selection Guide

Posted on Friday, 9th November 2018 by Dennis Damp

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Open season starts November 12th. There are tools available to evaluate provider options and help you select your 2019 plan. Use the following resources to make an informed decision for you and your family’s health care needs. Request a  Federal Retirement Report™  today to review your projected annuity payments, income verses expenses, FEGLI, and TSP projections. Obtain […]

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Blue Cross Focus to GEHA Standard Plan Comparison

Posted on Friday, 26th October 2018 by Dennis Damp

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Blue Cross Blue Shield (BCBS) is offering a new lower cost fee-for-Service Focus Plan in 2019. This article compares the BCBS Focus plan to the GEHA Standard plan. Many federal annuitants opt for a lower cost Federal Employee’s Health Benefit (FEHB) plan once they sign up for Medicare. The majority of FEHB plans waive many […]

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