Thursday, December 2, 2021

I Officially Am An Old Fart

I applied for Social Security benefits and Medicare Part B today. I applied for part A last year but held off on Part B because I could not get anyone at the Social Security office or at Medicare to contact me to give me information about Part B. Taking it now though after having learned some more about it by other means. 

My Social Security will be reduced drastically because of the federal Windfall Elimination Provision (WEP). In essence, because I am a federal retiree receiving a federal pension, my Social Security benefits get pillaged by the government regardless of the fact that I paid into Social Security when I had employment before and after my government civil service. 
 
While others, who do not receive federal pensions get the regular SS benefit based on what they contributed - federal retirees do not because their amount is greatly reduced by WEP. Somehow the government thinks we (government retirees) are receiving a windfall because we get a pension and social security. Well, if you receive a pension from private company and also get Social Security - your social Security is not reduced by WEP. You paid in and you get back the regular full amount due you from SS. I do not see why their should be a difference between us but there is a big difference.
 
Somehow the government twists this for federal retirees and they screw us over and reduce our SS payments even though we paid into it (while employed in other than government jobs either before federal employment, during it or after it) like anyone else who has enough private sector quarters. Screw the government. Anyway, I just hope that my SS benefit will cover the cost of the Medicare Part B.

All the best,
Glenn B
 
 

3 comments:

Jess said...

Part B is $148 a month, unless your state pays it due to your income. Part B, like Part A, is an 80/20 insurance. The 20% can be offset with a supplemental, or advantage policy. Part D covers medications. Advantage plans can cover more, but your choices for doctors can be limited.

I have a good agent, who found me the best prices for my supplemental plan, and prescription plan. I pay around $600 a month for my wife, and I. So far, doctor visits don't cost my anything, prescription costs are low, and finding a doctor has been no problem. It's far from cheap, but after paying exorbitant insurance costs before reaching 65, it's much, much better.

riverrider said...

right there with you brother. more so b/c i was an excepted service military technician. i was required to be in the national guard. when i had an accident that the national guard decided disabled me, they kicked me out after 29 years. that ended my federal service short of my 55th birthday. the feds are the only ones that can discriminate against the disabled. they gave me a small pension but social security will be reduced, and slojoe is trying to take my pension for not taking the jab. for the record, when you train people to do dangerous things, it is not a good idea to take everything they have left.

Glenn B said...

As I revall, Excepted Service had all sorts of screwed up rules about employment and retirement. You were screwed from day one while in a position that was Excepred Service. Those who were lucky got changed to regular Civil Service job classifications. I do not know though if that was possible for a molitary job. The G takes care of everyone except their own.