Even enrollees happy with their same coverage should look at the offerings. Image: William Potter/Shutterstock.com
By: FEDweek StaffThe annual federal benefits open season starting next Monday (November 14) and running through December 12 provides an opportunity for current enrollees change FEHB health insurance plans’ change levels of coverage, for plans that have more than one; and change among self-only, family and self plus one options.
Eligible employees who are not currently enrolled further can enroll although retirees generally cannot newly unless they are working as reemployed annuitants.
As earlier announced, the enrollee share of FEHB premiums will rise 8.7 percent on average; however, there is variation among plans and premiums in some are essentially flat or decreasing somewhat. There will be 271 plan choices including 18 nationwide plan choices open to all, four available only to certain groups, and the rest available regionally.
Even enrollees happy with their same coverage should look at the offerings, experts advise, since benefits do change somewhat year to year. And within the average premium increase there is variation, with some plan premiums essentially flat or decreasing slightly but others increasing by more than the average.
Also, some plans have expanded their coverage areas while several smaller plans have dropped out (see the attachment to BAL 22-403 at https://www.opm.gov/retirement-services/publications-forms/benefits-administration-letters). Those enrolled in the latter plans will have to select a new plan or else they will be placed by default in the GEHA “Elevate” option, the lowest-cost nationwide plan option.
In addition, as OPM recently pointed out, enrollees wishing to cover only one eligible family member other than themselves should note that in several national plans and some 80 regional plans, premiums for self plus one are more expensive than premiums for family coverage and they are free to enroll in the latter option even to cover just that one additional person.
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See also,
FEHB: Federal Benefits Fast Facts
FEHB Open Season Ahead – Time to Shop
Watch for ‘Significant’ FEHB Plan Changes, OPM Says
Enrollee Share of FEHB Premiums to Rise 8.7 Percent on Average for 2023
January Retirement COLA Set: 8.7 Percent for CSRS, 7.7 Percent for FERS
FERS Retirement Planning Bundle: 2022 FERS Guide & TSP Handbook
