FEGLI Rate Reminder

As previously announced, rates for Option B coverage under the Federal Employees Group Life Insurance will rise effective January 1 in the higher age bands. Option B is coverage of up to five times annual salary. Currently, those age 70-74 pay $0.87 biweekly or $1.885 monthly per $1,000 of coverage; those rates will increase to $1.03 and $2.232, respectively. Those 75-79 now pay $1.07 biweekly or $2.318 monthly; those rates will increase to $1.43 and $3.098, respectively. Those 80 and over now pay $1.27 biweekly or $2.752 monthly; those rates will increase to $1.83 and $3.965, respectively. This is the second of three annual increases in FEGLI rates at older ages in reaction to higher numbers of enrollees keeping the insurance at those ages.