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BenefitsLink > Q&A Columns >

Stop, Look & Listen: Railroad Retirement Benefits Q&A

Answers are provided by Robert S. Kaufman

Medicare Supplements

(Posted July 1, 2004)

Question 474: The cost of the railroad group policy is prohibitive for me. Can I drop that in favor of a standard Medicare Supplement insurance policy? Wouldn't such a policy cover costs not covered by Medicare Parts A and B?

Answer: Before dropping your railroad group coverage, check with the insurance company to be sure that the premium is not reduced when you get Medicare. Most group plans reduce the premium because Medicare covers a portion of the medical costs. A few, like the federal government employees' group plan, retain the same premium but waive all deductibles and coinsurance charges (virtually eliminating any out-of-pocket costs).

Replacing your group insurance with a Medicare supplement could be cost-effective, though. You will need to carefully shop around, to see what's the best coverage for you.

Important notice:

Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.

The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.

Copyright 1997-2017 Robert S. Kaufman
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