Premium Conversion Reminder

During the current open season for the Federal Employees Health Benefits program, employees enrolled in the “premium conversion” arrangement in which premiums are paid with pre-tax dollars need not do anything to continue that status. However, open season is the only time during the year in which premium conversion participants can change from family to self-only coverage or can cancel enrollment without having a “qualifying life event” such as a marriage or birth or death of a family member. Those who do not participate in premium conversion-primarily retirees, who are ineligible for that tax break-can make those changes at any time. Also, open season is the only time in which current employees can either join premium conversion or drop out of it.