Q. I will have Medicare next year in May. I am a working CSR retiree and am currently covered by my employer’s plan (with more than 65 employees), and I still maintain my FEHB through NALC. The employer’s plan has a high deductible ($2,000) this year. Can I drop my employer’s group health plan, take Medicare Part A and B, and use my FEHB as the supplement? Otherwise, I would have 3 insurances if I have to stay on my employer’s insurance. I just don’t understand how to balance all this and it seems as though I will be overinsured while paying a lot for the Part B and the federal plan.

A. I’ll phrase my answer in the form of a question, since I generally assume that the FEHBP provide adequate medical insurance to its participants. Why don’t you drop your current employer’s coverage, stick with FEHBP and enroll only in Medicare Part A? Does the FEHBP not cover the unacceptable risk?


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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