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Federal benefits open season is here, giving participants in the Federal Employee Health Benefits Program (FEHBP) about a month to make changes to—and also cancel—their insurance plans.
If you’re covered by your spouse’s insurance and thinking about dropping FEHBP, consider this: an FEHBP policy can be carried into retirement, while your spouse’s policy may end at retirement. Be sure to elect a survivor annuity, which can be helpful to your spouse should you die first. If you were enrolled in a self plus one or family coverage at the time of your death, your family members who shared in that enrollment would be entitled to the same benefits and government share of the costs as any current or retired employee enrolled in the same plan.
With about 265 health plan options next year, making decisions can be overwhelming. That’s why NTEU offers members free access to the Consumers’ Checkbook Online Guide to help make cost comparisons, look at quality ratings and examine flexibility on choice of doctors and more. Enter your information and get expert advice now