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Posted on Friday, 8th October 2021 by Dennis Damp

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We are used to paying more for everything these days so it shouldn’t be a surprise again this year that the majority of our Federal Employee’s Health Benefits (FEHB) premiums are going up. The average total premiums for current non-Postal employees and annuitants enrolled in plans under the FEHB Program will increase 2.4 percent for […]

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Posted on Friday, 1st October 2021 by Dennis Damp

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The Federal Employees Health Benefits open season is just around the corner, running from November 8th through December 13th of this year. It will not be delayed due to COVID. Federal employees and annuitants can enroll in the program, change enrollments, change to another FEHB plan or plan option or cancel an existing enrollment. New […]

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Posted on Saturday, 18th September 2021 by Dennis Damp

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The older generations, including retirees and those still working and planning their exit, have a vast collective voice that is often ignored or relegated to background noise by the news media, big tech, political parties, and others. The older generations have ways to effect change to a greater degree than most realize. Only a small […]

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Posted on Friday, 3rd September 2021 by Dennis Damp

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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 […]

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Posted on Friday, 6th August 2021 by Dennis Damp

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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. […]

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Posted on Thursday, 22nd July 2021 by Dennis Damp

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A number of our newsletter subscribers commented on my article titled, “Unexpected Medical Expenses.”  Several stand out and need further clarifications. One of particular interest was from Richard, he will turn 65 later this year and wanted to know if the drug manufacturer’s “savings card” that he now uses would be accepted after signing up […]

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Posted on Friday, 9th July 2021 by Dennis Damp

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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, […]

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Posted on Friday, 7th May 2021 by Dennis Damp

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IRMAA stands for Income Related Monthly Adjustment Amounts. A federal retiree’s total income includes their pension, social security benefits, income from investments (dividends and capital gains), and required minimum distributions from their TSP and other retirement accounts. Many also work part time or own small businesses. All income combined can often increase a retiree’s Medicare […]

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