[00:00:00] Speaker A: Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment and is not a solicitation or recommendation of any investment strategy.
Welcome to Reyna Retirement. Reyna Reyes has dedicated her career to helping people make smarter financial decisions. Reyna Retirement is all about breaking down complex financial concepts into language you can actually understand. Now here's the co founder of American Federal Benefits Consultants, Raina Reyes.
[00:00:39] Speaker B: Raina here, retirement Specialist. If you're a postal employee, you've got choices and I have answers. So Medicare, remember back in the day a couple years ago they passed the Postal Reform act and that requires you, as opposed to employee and your spouse, if you're married, to turn on Medicare Part B premiums. You've got to have it if you want to keep their pshp, that is the Postal Service health benefit plan. So that was going to reduce the strain on the post office and all other kinds of things, regardless of all the reasons behind it. It is law right now. So if you have retired after January of 2025 or you are going to retire anytime after now, we might want to talk because there are some things going on that a lot of people did not know are going on and some options you have that maybe you didn't realize you had a choice in. So what does this mean? Let's say you have Blue Cross and Blue Shield Basic for two people. Well, that monthly premium is $608 a month. We know what that is. It's written all over town. We know that monthly premium. Well, how much is Medicare Part b? Well, it's $185 per month per person. So if you're married, there's $370 in addition to the 608 you see. 608 plus 370 $978 a month. Well, you can pay this if you want to. I'm totally cool if you got it going like that. That's awesome. Congratulations. Many people don't want to spend that kind of money on a health insurance premium that is primary and secondary. So remember, while you're working, your Blue Cross or your PSHB is going to be primary. But the moment you retire and have Medicare, bam, they flop and you've got Medicare as primary. Blue Cross or your Postal Service health benefit plan is secondary. That's for both you and the spouse if you're married. So a lot of people don't want to spend $978 a month. So they're thinking, what can I do to save money? Holy cow. Some people say, oh, I'll just reduce down to a really lower postal service plan. You could, but then what have you saved? A couple hundred dollars maybe. Other people say, well, I'm. I found a way to get my discounts on my prescriptions and that's nice. That's a good. That's something as well. But in general, your options are going to be spend all the money on both of them, option number A or letter A, rather option number two or letter B to reduce the cost of a postal health plan by trying to go to some indemnity plan or something ridiculous because it's secondary anyway. So I want to spend less money on my secondary insurance. Another option would be call me. Let's explore Medicare plans. There are way too many Medicare options available that could save you significant money. There are some plans out there that through these Medicare options could reduce the cost of Medicare Part B while you either keep your postal service health benefit plan. And many of these offer the option for something called suspension, meaning you can have these Medicare plans. And if you don't want to keep paying for your postal service health plan, you can suspend it indefinitely while using some of these other Medicare options. And you can imagine how low the cost can be then. Now there's no one size fits all. We would need to get scheduled, have a meeting, go over the individual situation that you have and of course with your spouse if you're married, and make sense of the options you have. But I want you to know there is not just one way to fry this fish. We can look at different things that are out there and save you some money. I feel like the car commercial guy. I want to save you money and I'm not trying to be that intense. I can be intense if you want me to, give me a call, get scheduled, and I'll be as intense as you want me to. But we want to find what makes sense for you. Sometimes it makes sense to spend the 900 bucks a month. Very rarely is that the best answer, but sometimes that can be. Sometimes people just want to continue on, but a lot of people want to save crazy money. And I can take you to people for whom I have saved literal hundreds and hundreds and hundreds of dollars. If you want that to be, you, get scheduled. My calendar link is available here on the page. My direct phone number, 850-450-6500. My email, raina r a y n
[email protected] that is American Federal like you see in the little logo guy up here. Americanfederal.org, and I am a Medicare specialist myself since 2013 and I work with other Medicare specialists on my team. We can help you make choices and we don't want to get in the weeds too much. We just want to get the answers and find the way that is going to make the most sense for you. So reach out, get scheduled. Let's get some answers for you and save you some dinero. We'll talk to you soon.
[00:05:51] Speaker A: Thanks for listening to Reyna Retirement With a strong commitment to ethical standards, Rayna works hard to find the right solution for each individual or family who reaches out for advice. To contact Reyna directly, call 850-450-6500. That's 850-450-6500. Or to reach the team at American Federal Benefits Consultants, call 1-800-872-8857. That's 1-800-872- 8857. You can also go online to American Federal not affiliated with the United States Government. Opinions expressed are subject to change without notice. These opinions are not intended as investment advice, nor do they predict future performance of any product. All information provided is believed to be from reliable sources. However, we make no representation or warranty as to the accuracy of any statement. The information is intended to be educational in nature and does not provide a guarantee or specific result. All copyrights and trademarks are the property of their respective owners. American Federal Benefits Consultants is an independent, independent organization, not a government agency or affiliated with the Federal Government or any state government. The terms CSRs, FERs, FELI, and FEHB are all registered trademarks of the U.S. office of Personnel Management. American Federal Benefits Consultants, Agents, Consultants, or any independent contractors do not provide tax, legal or investment advice and do not engage in the solicitation or sale of securities. Consult with your tax advisor or attorney regarding specific situations.
