Bulletin Board Entries

There is an error in the 2010 version of the Medicare and You publication on page 100. It talks about Federal Long Term Care Insurance and refers the reader to OPM's Retirement Information number 1-888-767-6738. The correct contact is Federal Long Term Care Partners at 1-800-582-3337.

Many of our members are confused by the insurance options. are there any speakers in our area available for a meeting program? (Eastern Panhandle - WV)

Congratulations to Harvey Lien, Chapter 119, North Dakota, Region V is the Service Officer of the Year for 2009. Congratulations Harvey!

 

David Snell, Retirement Benefits Service

As you know, CSRS retiree who were not eligible for the $250 stimulus check, will be able to take advantage of a $250 tax credit when they go to file their Federal tax returns for 2009. While instructions for the form 1040 are not yet published, those who file estimated taxes can find the tax credit mentioned in IRS Pub 505, page 3.

The APWU Health Plan is in the process of coordinating Open Season activity and events.  They make every effort to attend as many health fairs and agency events as possible. Please let them know if you are planning a health fair.  If you already have a date, time and place scheduled, forward  via fax at 410-424-1572 or U.S. Mail (APWU Health Plan, Marketing Programs Coordinator,

799 Cromwell Park Drive

, Suites K-Z, Glen Burnie, MD  21061 ).

 

You can contact Maurice Glover at 410-424-1567 or Lynn Wilson at 410-424-1505 should you have any questions.

 

From David Snell, Director Retirement Benefits 

 

 

 

 

 

 

 

There are many banks that have failed this year and retirees whose annuity is direct deposited may be affected. You can go to www.fdic.gov/bank/individual/failed to see a list of banks. Those that were not bought out by other banks and were closed should have sent a letter to their depositors instructing them they need to change to another bank.

Dave Snell, Retirement Benefits Service Department

OPM has announced that John Hancock Life and Health Insurance company will be the benefits provider for the next 7 years of the contract. Previously the providers were both John Hancock and Metropolitan Life. OPM stated there will be new benefit options, increased home health care reimbursements, new benefits periods, higher daily benefit amounts. Premiums will increase 5% to 25% for current enrollees with the automatic compound inflation (ACI) protection.There will be no premium increase for enrollees with Future Purchase Option.  Hancock will provide a decision period for current enrollees before any premium increase takes effect.

Dave Snell, Retirement Benefits Services

A retiree who knew he was dying cancelled the two multiples of his life insurance to save his wife the cost of the premiums. He assumed the insurance amount would then reduce by 2% a month, but he expected his wife would still collect a large amount. He did die a short time after, at the age of 70. What he did not know, and what OPM failed to tell him in response to his cancellation request, was that the 2% deduction goes back to age 65. Hence, when the wife applied for the life insurance, she did not receive any of the two multiple amounts. There was a happy ending because she was able to provide medical evidence showing that her husband was incompetent at the time he made his request. Did you know that  the 2% reduction starts at age 65 regardless of when you cancel?

I have a question about Flexible Spending Accounts for Retirees.  I saw an article on the OPM web site that federal retirees cannot enroll in the Federal Flexible Spending Accounts (FSAFEDS).  Is this actually the situation?  One of my retiree members is asking if she can open a FSA.  Any information will be helpful.  Thank you