Notes from the 2024 Retirees Meeting at Der Dutchmen

COST OF LIVING ADJUSTMENT (COLA) 2025: From OPM.gov

Civil Service Retirement System (CSRS) annuitants and survivors and eligible Federal Employees Retirement System (FERS) retirees and survivors will receive a COLA effective December 1, 2024. The increase will be reflected in your January 2, 2025, payment. CSRS annuitants will receive a 2.5% COLA and eligible FERS annuitants will receive a 2.0% COLA.

UPMA POSITION AVAILABLE TO UPMA RETIRED MEMBERS: WWW.unitedpma.org

Full Time Executive Assistant and Office Administrator Position

Company Description

United Postmasters and Managers of America (UPMA) exists to mentor, guide, and support all Postmasters, Managers, Supervisors, and other EAS professionals, as well as anyone aspiring to these positions. We provide members with networking opportunities and essential training to help them achieve their professional goals. We are dedicated to creating avenues through which all United States Postal Service employees can help one another in matters concerning their careers.

Role Description

This is a full-time Executive Assistant and Office Administrator position located in Alexandria, Virginia. The Executive Assistant will be responsible for supporting executive-level staff and ensuring that day-to-day operations run smoothly. This role will require handling confidential information, scheduling, handling phone and email communications, creating expense reports, and performing other administrative tasks, as needed.

Note: This position is currently posted for application only from members of UPMA who have retired, or will be retired on, or before, the start date of employment which is January 1, 2025. The application period is open until Friday, September 27, 2024 at 9 PM, EDT. Interviews for this position will take place between Monday, September 30 and Wednesday, October 2, 2024.

Application Process: If you are interested in this position please send a letter of application, including your qualifications for the position to President-elect Tony Leonardi (tonyupmafl@gmail.com) and current Executive Director Dan Heins (dheins@unitedpma.org) prior to the application deadline on September 27th.

UPDATE ON SPECIAL ENROLLMENT PERIOD (SEP): from President Charley

   Here's an update on the PSHB Special Enrollment Period for Medicare Part B. The SEP is for those who were eligible for Medicare Part A, but chose not to enroll in Medicare Part B when they were first eligible. To be eligible for the SEP, you must be an Annuitant and have been eligible for Medicare Part A and not enrolled in Part B as of 1/1/2024. If you become eligible for Medicare Part A after 1/1/2024 (normally 65 years old), you are not eligible for the SEP. That date has already passed. Covered family members are subject to the same rules as the Primary insured. You have the opportunity to enroll in Medicare Part B without penalty, 3 months prior to your 65th birthday, the month of your birthday and 3 months after the month of your birthday (total of 7 months). 

   If you retire after the age of 65, your Individual Enrollment period begins on your retirement date, and you will have 8 months to choose Medicare Part B without penalty. If you fall into the category of being required to take Medicare Part B and you miss your Individual Enrollment period, you will be subject to a Medicare Part B Penalty, and you could also lose your PSHB coverage because you are required to have Medicare Part B to keep your PSHB coverage. If you are currently retired by 12/31/2024, you are not required to choose Part B. If you are 64 years of age or older and still employed, you will not be required to enroll in Medicare Part B when you retire and eligible for Medicare. If you are under 64 years of age and still employed, you will be required to take Medicare Part B when you retire and eligible for Medicare.

    For more information on the Special Enrollment Period for Medicare Part B, and answers to some of your questions, such as: What to do if you believe you are eligible to participate in the PSHB SEP and do not receive a notification letter by mail in March. This site also has sidebar Resources for other information on PSHB. https://www.keepingposted.org/pshb-sep.htm

MEDICARE PART D PRESCRIPTION DRUG PLAN IN A NUTSHELL:

from Retired President Charley Peters

               Blue Cross Blue Shield sent out introduction letters early on. I received mine dated October 18, 2023, explaining this new drug benefit, FEP Medicare Prescription Drug Program (MPDP), and how to opt out. It is for FEP members enrolled in Medicare Part A and/or B. You will keep your current FEP medical plan coverage (no changes to your medical coverage). Part D gives access to additional covered prescription drugs in tiers 3 and 4, which could mean lower out of pocket cost for higher cost drugs. You don't pay a separate premium; the new MPDP is included in your FEP premium. With this you have access to Tier 1 Generic drugs, Tier 2 Preferred brand name drugs, plus Tier 3 Non-preferred brand name drugs, and Tier 4 Specialty drugs. The traditional BC/BS drug coverage was for Tier 1 and 2 only. The new Medicare Prescription Drug Plan (MPDP) also added a maximum $3,250 out of pocket that is not in the traditional Rx coverage.

               You are automatically enrolled unless you opt out. You can opt out anytime if you find it is not working for you. If you opt out, you will revert back to your traditional BC/BS prescription drug coverage, but you will have to wait until the next Open Season if you want to get back in. BC/BS worked with Medicare and OPM to offer this Medicare Part D Prescription Plan, but you are not paying the Part D Premium separately, it is just an additional benefit of your BC/BS FEP Plan. You have to get your prescriptions at an in-network retail pharmacy or FEP Mail Service Pharmacy. There are more than 65,000 in-network or preferred retail pharmacies.

               As stated, there is no additional cost for the new plan, UNLESS your individual income is more than $103,000 or $206,000 as a couple, and you are already paying an income related Medicare Part B premium. Like Medicare Part B, you will pay an additional Income Related surcharge for Medicare Part D prescription drug coverage. This surcharge goes up as your income increases but if you crunch numbers, you could find that your Part D coverage savings might offset the additional surcharge. If you are not making $103,000 or more, then you don't have to worry about that.

               Remember: If you give it a try and then decide to opt out, you can do that anytime during 2024, or you can contact BC/BS or Medicare now and opt out. For a full description of benefits in your Basic Option Evidence of Coverage, go to fepblue.org/medicarerx or call 1-888-338-7737. You can use their Prescription Drug Cost tool at fepblue.org/rx to see what your drug costs at local pharmacies and via the FEP Mail Service Pharmacy or you can call 1-888-338-7737..

               On a personal note, I recently received in the mail a 2024 FEP Medicare Prescription Drug Program Basic Option Member Kit. I will wait and see if my Prescription Drug costs increase or decrease with the Medicare approved drug plan payments.

               It is important to note that many insurance carriers in the FEHB Plan have already implemented the Medicare Advantage Plan. GEHA automatically enrolled their members in a Medicare Advantage program, and they had to also choose to opt out. Some of the Union Insurance programs did similar.  BCBS is just implementing the Plan in 2024. These are changes made by the Health Insurance Providers and approved by OPM.

Click on this Link to the Federal Retirement Newsletter:

https://www.myfederalretirement.com/ira-contirbutions-secure-act/