Turning 65?
So, you're a military retiree, turning the age of 65. Here are some things you need to consider and accomplish. Also, review the TRICARE & MEDICARE Brochure: Turning Age 65.
"Must Do's" When Turning 65
- Enroll in Medicare Part 'B' 3-6 months prior to your birth month. The Medicare website says 3 months prior, but their website allows you to start 6 months prior. Don't wait!
- Verify your DEERS record with a DEERS/RAPIDS ID Card office after Medicare enrollment to ensure Medicare properly automatically update DEERS to reflect enrollment.
- Get your new INDEF Retiree ID Card from a DEERS ID Card office the month prior to your birth month, which for the retiree is the Expiration month on your current ID card (month prior to birth month). INDEF status for retirees does not depend on Medicare enrollment. Dependent expiration dates and INDEF status varies. Read Here about INDEF Retiree and dependent ID cards.
- Verify with TRICARE your TRICARE For Life has indeed started IF you have enrolled in Medicare Part B. You can call the TRICARE Office in the Brian Allgood Medical Hospital at USAG Humphreys or call TRICARE to make sure.
- If enrolled in TRICARE Plus at Osan AB, contact the 51 MED GROUP TRICARE office to update your TRICARE Plus record to reflect TFL to keep your current Plus status and a PCM.
- Obtain a Korean ARC Card if you don't already have one.
- Obtain a Korean Drivers License if you don't already have one.
- Ensure your Passport is still valid. When renewing, also get a Passport Card for good measure.
Have Your Affairs in Order
Prepare for after you're gone!
Review the Family Protection Plan document and other Survivor Planning guides, which has a lot of checklists and information. Make sure all bank accounts have direct beneficiaries. The beneficiary need only go to the bank with your death certificate and an ID of their own.
Do NOT forget those insurance policy copies and your state registered DD214!! You also need to send your DD214 to the Veterans Cemetery AHEAD OF TIME. They will send a letter back. That letter needs to be included in your veteran binder with all your DBQ’s, code rating sheet or rating decision letters. Leave your MyHealthyVet username and password, too. There’s so much we don’t think about.
- Transfer On Death (TOD) deed if you own a home. Completing this document and filing it with your county saves your heirs THOUSANDS. This document allows you to transfer ownership of your home to your designee. All they need to do is take their ID and your death certificate to the county building and the deed is signed over. Doing this will avoid the home having to go through probate.
- Living Will: Allows one to put in writing exactly what you want done in the event you cannot speak for yourself when it comes to healthcare decisions
- Durable Power of Attorney: Allows one to designate a person to make legal decisions if one is no longer competent to do so.
- Power of Attorney for Healthcare: This document allows one to designate someone to make healthcare decisions for their person.
- Last Will and Testament: Designates to whom personal belongings will go too.
- Funeral Planning Declaration: allows one to say exactly one’s wishes as far as disposition of the body and the services.
Note: If the above documents are done, you can AVOID probate. If all the above is not done, you have to open an estate account at the bank. All money that doesn’t have direct beneficiaries goes into this account. You have to have an attorney to open the estate account. The attorney also has to publicize your passing in the newspaper or post publication at the county courthouse, to allow anyone to make a claim on your property. - It’s a complete PAIN.
- Make a list of all banks and account numbers, all investment institutions with account numbers, lists of credit cards, utility accounts, etc. Leave clear instructions as to how and when these things are paid. Make sure heirs knows where life insurance policies are located.
- Make 100% sure SOMEONE knows your Apple ID, bank ID account logins and passwords!
- Make sure you have titles for all vehicles, campers, etc!
- MOST IMPORTANTLY!!!! - Talk with those closest to you and make all your wishes KNOWN. Talk to those whom you’ve designated, as well as those close to you whom you did not designate. - Do this to explain why your decisions were made and to avoid any lingering questions or hurt feelings.
Last, But not Least, Ask for Help
Assistance is available in many different venues. One such is the Retiree and Widow Support Offices page here where there are retiree volunteers and their many contacts who have been there, done that, and have vast amounts of experience. Don't hesitate to ask.
