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Posted on Sunday, 23rd January 2022 by Dennis Damp

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I’ve received a number of questions ranging from COLAs and I Savings Bond interest, to the impact on a federal employee’s annuity if they retire early or take a deferred retirement.  You may find this information helpful. COLAs and the FERS Supplement FERS employees retiring with a Special Supplement should be aware of their limitations. […]

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Posted on Friday, 10th December 2021 by Dennis Damp

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The Internal Revenue Code (IRC) requires that you begin receiving distributions from your account in the calendar year you become age 72 and are separated from federal service. Your entire TSP account—both traditional and Roth—is subject to these required minimum distributions (RMDs). The TSP calculates RMDs using your age, your prior year-end account balance, and […]

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Posted on Saturday, 27th November 2021 by Dennis Damp

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“Yes, Virginia, there is a Santa Clause.” Prescription drug copays under Aetna’s Medicare Plans remain the same regardless of whether or not you enter the Part D prescription drug gap. This includes all three of their plans: Self Only (Z24), Self + 1 (Z26), Self and Family (Z25). I talked to a number of Aetna […]

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Posted on Saturday, 20th November 2021 by Dennis Damp

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Updated 11/23/2022 My recent article titled “GEHA Standard to BCBS Basic Plan Comparison – 2023” stated that Federal Employees Health Benefits (FEHB) Medicare Advantage (MA) plans could possibly save you even more. These plans were introduced as new options in the FEHB program over the past several year. Many federal employees and annuitants are curious […]

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Posted on Friday, 19th November 2021 by Dennis Damp

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Transitory inflation is a myth that is unsustainable. Yes, the COLA this year was 5.9%; since it was announced, the Bureau of Labor Statistics reported prices climbed 6.2% year-over-year, the largest increase since November 1990. Everything we buy or the services we use with few exceptions are increasing at an alarming rate. Medicare premiums were […]

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Posted on Thursday, 18th November 2021 by Shawn McCoy

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With the Federal Open Season this is a great time to review a benefit that is not widely used by Federal employees, the Federal Flexible Spending Account Program (FSAFEDS). The first question most Feder employees ask is “What is the Federal Flexible Spending Account Program (FSAFEDS)?” FSAFEDS allows federal employees to save money for health […]

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Posted on Saturday, 13th November 2021 by Dennis Damp

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This summary compares the 2022 GEHA Standard and Blue Cross Blue Shield (BCBS) Basic plans. There are many other plans to consider. I used these two nationwide providers because BCBS has the most subscribers and GEHA has one of the lowest premiums for their standard plan. Many annuitants change to a lower cost FEHB plan […]

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Posted on Friday, 5th November 2021 by Dennis Damp

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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. […]

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