FEDVIP
If you are enrolled in FEDVIP, you can continue that coverage without taking any action during the current Open Season. If you aren’t enrolled, you can do so. In either case, you’ll want to research the providers. FEDVIP is adding four new plans for the 2014 plan year, bringing the total to 14—four vision, 10 dental. Note that providers may be different from your FEHB providers and understand how the two will coordinate benefits. FEDVIP always pays benefits secondary to your FEHB coverage.
Unlike in the FEHB isn’t any “five-year rule” for being eligible in retirement for FEDVIP. If you are already enrolled in the program, your coverage will continue if you retire on an immediate annuity. You also can newly enroll in FEDVIP during retirement if you weren’t enrolled before, or if you were enrolled and dropped that coverage—another difference from FEHB.
If you decide to cancel your FEDVIP coverage, you can only do that during Open Season or if you are deployed on active duty.
FSAFEDS
If you are an employee who hasn’t already enrolled in FSAFEDS, you can do so. Whether you are a new enrollee or are already enrolled, you can choose either or both a dependent care account and a health care account. A third type of health account, called a “limited expense” account is available if you are in an FEHB plan with a health savings account feature.
As an enrollee in FSAFEDS, you’ll be able enjoy the lower taxable income benefits and pay for your FEHB and FEDVIP co-pays and deductibles.
Unlike in FEHB and FEDVIP, you must make a new election each year. And also unlike those two programs, FSAs are not available to retirees.
Information Sources
If you want to get comprehensive information about any of these programs, go to www.opm.gov/insure/health. If you click of FEHB or FEDVIP, you can then click on the following topics: Plan Info, Compare Plans, Premiums, and Guide to Federal Benefits. For FSAFEDS, you can click on these topics: Program Info, Eligible Expenses Jukebox, and Calculator. The last two will take you to external links.
Open Season Elections
FEHB: If you are an employee, you can use the Health Benefits Election form (SF 2809), available from your personnel office or at http://www.opm.gov/forms/pdf_fill/sf2809.pdf.
If you are a retiree, you can go to Open Season Online at https://retireefehb.opm.gov. You can also call Open Season Express at 1-800-332-9798 and then listen to and follow the voice prompts that tell you how to proceed.
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FEDVIP: Go to www.benefeds.com or call 1-877-888-3337 (TTY 1-877-889-5680).
FSAFEDS (employees only): Go to www.fsafeds.com or call 1-877-372-3337 (TTY 1-800-952-0450).