FEDweek

FEHB Premium and Plan Offerings Announcement Ahead

The annual announcement of premiums and plan offerings in FEHB for the upcoming plan year—that is, calendar year—likely will be made in the upcoming weeks. That announcement, which follows negotiations between OPM and the carriers over the summer, comes well in advance of the annual open season opportunity to join the program or to change coverage, which this year runs November 14-December 12. OPM recently sent a notice to agencies telling them to prepare to send out informational materials later this month. While the announcement includes rates and general coverage changes, specifics of plan offerings commonly aren’t available until just before the start of the open season. New rates in the FEDVIP vision-dental insurance program are announced at the same time for the same open season. The open season also is the opportunity to elect flexible spending accounts for the following year. In FEHB and FEDVIP, benefit elections continue from one year to the next unless changed, but a new FSA enrollment is required each year.