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Korea Retiree Update

Korea Retiree Update. Osan AB Retiree Activities Office Jack Terwiel. Overview. RAO Situation Update. Overview. RAO Situation Update Department of Veterans Affairs. Overview. RAO Situation Update Department of Veterans Affairs Social Security Benefits. Overview. RAO Situation Update

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Korea Retiree Update

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  1. Korea Retiree Update Osan AB Retiree Activities Office Jack Terwiel

  2. Overview • RAO Situation Update

  3. Overview • RAO Situation Update • Department of Veterans Affairs

  4. Overview • RAO Situation Update • Department of Veterans Affairs • Social Security Benefits

  5. Overview • RAO Situation Update • Department of Veterans Affairs • Social Security Benefits • Medicare Part B Enrollment

  6. Overview • RAO Situation Update • Department of Veterans Affairs • Social Security Benefits • Medicare Part B Enrollment • Survivor Benefit Plan (SBP)

  7. Overview • RAO Situation Update • Department of Veterans Affairs • Social Security Benefits • Medicare Part B Enrollment • Survivor Benefit Plan (SBP) • Defense Finance and Accounting Service

  8. Overview • RAO Situation Update • Department of Veterans Affairs • Social Security Benefits • Medicare Part B Enrollment • Survivor Benefit Plan (SBP) • Defense Finance and Accounting Service • Possible Source for Dental Insurance

  9. RAO Situation Update • I AM NOT QUITTING!

  10. RAO Situation Update • I AM NOT QUITTING! • Stepping down as Director effective Dec 23

  11. RAO Situation Update • I AM NOT QUITTING! • Stepping down as Director effective Dec 23 • Looking for person to fill Director’s position

  12. RAO Situation Update • I AM NOT QUITTING! • Stepping down as Director effective Dec 23 • Looking for person to fill Director’s position • Comes with SOFA status for eligible person

  13. RAO Situation Update • I AM NOT QUITTING! • Stepping down as Director effective Dec 23 • Looking for person to fill Director’s position • Comes with SOFA status for eligible person • Revised hours of office operation from Jan 10

  14. RAO Situation Update • I AM NOT QUITTING! • Stepping down as Director effective Dec 23 • Looking for person to fill Director’s position • Comes with SOFA status for eligible person • Revised hours of office operation from Jan 10 • I will work in office Tue-Wed-Thu, 1000-1400

  15. RAO Situation Update • I AM NOT QUITTING! • Stepping down as Director effective Dec 23 • Looking for person to fill Director’s position • Comes with SOFA status for eligible person • Revised hours of office operation from Jan 10 • I will work in office Tue-Wed-Thu, 1000-1400 • Allow more time to work on web site, newsletters

  16. RAO Situation Update • I AM NOT QUITTING! • Stepping down as Director effective Dec 23 • Looking for person to fill Director’s position • Comes with SOFA status for eligible person • Revised hours of office operation from Jan 10 • I will work in office Tue-Wed-Thu, 1000-1400 • Allow more time to work on web site, newsletters • Possible change to Yongsan visit location

  17. Department of Veterans Affairs • VA physicals to be done at DoD hospital

  18. Department of Veterans Affairs • VA physicals to be done at DoD hospital • Agreement reached in November

  19. Department of Veterans Affairs • VA physicals to be done at DoD hospital • Agreement reached in November • No details yet on when or how

  20. Department of Veterans Affairs • VA physicals to be done at DoD hospital • Agreement reached in November • No details yet on when or how • Prostate cancer and Agent Orange

  21. Department of Veterans Affairs • VA physicals to be done at DoD hospital • Agreement reached in November • No details yet on when or how • Prostate cancer and Agent Orange • DD Form 214 as evidence of Vietnam service

  22. Department of Veterans Affairs • VA physicals to be done at DoD hospital • Agreement reached in November • No details yet on when or how • Prostate cancer and Agent Orange • DD Form 214 as evidence of Vietnam service • Medical records showing treatment

  23. Department of Veterans Affairs • VA physicals to be done at DoD hospital • Agreement reached in November • No details yet on when or how • Prostate cancer and Agent Orange • DD Form 214 as evidence of Vietnam service • Medical records showing treatment • Respiratory diseases and Agent Orange

  24. Social Security Benefits • Korean citizen spouses eligible at age 62

  25. Social Security Benefits • Korean citizen spouses eligible at age 62 • Her benefits taxable at 25.5%

  26. Social Security Benefits • Korean citizen spouses eligible at age 62 • Her benefits taxable at 25.5% • Non-refundable, but may be applied to taxes owed on joint return

  27. Social Security Benefits • Korean citizen spouses eligible at age 62 • Her benefits taxable at 25.5% • Non-refundable, but may be applied to taxes owed on joint return • Retiree drawing benefits also eligible for:

  28. Social Security Benefits • Korean citizen spouses eligible at age 62 • Her benefits taxable at 25.5% • Non-refundable, but may be applied to taxes owed on joint return • Retiree drawing benefits also eligible for: • Child’s benefits for each child under 19

  29. Social Security Benefits • Korean citizen spouses eligible at age 62 • Her benefits taxable at 25.5% • Non-refundable, but may be applied to taxes owed on joint return • Retiree drawing benefits also eligible for: • Child’s benefits for each child under 19 • Mother’s benefits for wife if children under 16

  30. Medicare Part B Enrollment • Automatic enrollment if 65 or over and not already enrolled

  31. Medicare Part B Enrollment • Automatic enrollment if 65 or over and not already enrolled • Automatic enrollment for Korean citizen spouses and widows who are 65 or over

  32. Medicare Part B Enrollment • Automatic enrollment if 65 or over and not already enrolled • Automatic enrollment for Korean citizen spouses and widows who are 65 or over • Elimination of late enrollment penalty only applies to enrollments in 2001-2004

  33. Medicare Part B Enrollment • Automatic enrollment if 65 or over and not already enrolled • Automatic enrollment for Korean citizen spouses and widows who are 65 or over • Elimination of late enrollment penalty only applies to enrollments in 2001-2004 • Your choice when to start coverage in 2004 for reimbursement of medical expenses

  34. Medicare Part B • Hospice Care covered by Medicare Part B

  35. Medicare Part B • Hospice Care covered by Medicare Part B • For patients diagnosed with a terminal illness and no chance of recovery, only for care provided in U.S.

  36. Medicare Part B • Hospice Care covered by Medicare Part B • For patients diagnosed with a terminal illness and no chance of recovery, only for care provided in U.S. • Coverage in 90-day increments up to 6 months

  37. Medicare Part B • Hospice Care covered by Medicare Part B • For patients diagnosed with a terminal illness and no chance of recovery, only for care provided in U.S. • Coverage in 90-day increments up to 6 months • Then coverage in 60-day increments with approval from doctor and hospice care management

  38. Medicare Part B • Hospice Care covered by Medicare Part B • For patients diagnosed with a terminal illness and no chance of recovery, only for care provided in U.S. • Coverage in 90-day increments up to 6 months • Then coverage in 60-day increments with approval from doctor and hospice care management • Patient must waive any other medical care and medical procedures except those provided as part of hospice care

  39. Survivor Benefit Plan • Elimination of age 62 Social Security offset

  40. Survivor Benefit Plan • Elimination of age 62 Social Security offset • Currently reduces coverage from 55% to 35%

  41. Survivor Benefit Plan • Elimination of age 62 Social Security offset • Currently reduces coverage from 55% to 35% • 3-1/2 year phase out starting in Oct 2005

  42. Survivor Benefit Plan • Elimination of age 62 Social Security offset • Currently reduces coverage from 55% to 35% • 3-1/2 year phase out starting in Oct 2005 • Oct 2005 – increase from 35% to 40%

  43. Survivor Benefit Plan • Elimination of age 62 Social Security offset • Currently reduces coverage from 55% to 35% • 3-1/2 year phase out starting in Oct 2005 • Oct 2005 – increase from 35% to 40% • Apr 2006 – increase from 40% to 45%

  44. Survivor Benefit Plan • Elimination of age 62 Social Security offset • Currently reduces coverage from 55% to 35% • 3-1/2 year phase out starting in Oct 2005 • Oct 2005 – increase from 35% to 40% • Apr 2006 – increase from 40% to 45% • Apr 2007 – increase from 45% to 50%

  45. Survivor Benefit Plan • Elimination of age 62 Social Security offset • Currently reduces coverage from 55% to 35% • 3-1/2 year phase out starting in Oct 2005 • Oct 2005 – increase from 35% to 40% • Apr 2006 – increase from 40% to 45% • Apr 2007 – increase from 45% to 50% • Apr 2008 – final increase from 50% to 55%

  46. Survivor Benefit Plan • Elimination of age 62 Social Security offset • Currently reduces coverage from 55% to 35% • 3-1/2 year phase out starting in Oct 2005 • Oct 2005 – increase from 35% to 40% • Apr 2006 – increase from 40% to 45% • Apr 2007 – increase from 45% to 50% • Apr 2008 – final increase from 50% to 55% • Supplemental SBP charge eliminated Nov 2004

  47. Survivor Benefit Plan • Open enrollment period starting Oct 2005

  48. Survivor Benefit Plan • Open enrollment period starting Oct 2005 • For one year, ending Sep 2006

  49. Survivor Benefit Plan • Open enrollment period starting Oct 2005 • For one year, ending Sep 2006 • Able to buy in by paying premiums back to when you retired plus late enrollment penalty

  50. Survivor Benefit Plan • Open enrollment period starting Oct 2005 • For one year, ending Sep 2006 • Able to buy in by paying premiums back to when you retired plus late enrollment penalty • May be affordable if you haven’t been retired for a long time

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