The Federal Employees Health Benefits (FEHB) and Self + 1 by Paul Kalra

Federal Employee Health Benefits (FEHB) Advice from Paul Kalra

Paul Kalra

If you missed the chance to enroll in the new FEHB (Federal Employees Health Benefits) Self Plus One plan that was available in the fall of 2015, you have another chance in February 2016 to obtain these benefits if you choose to do so.

Back in 2013, as a part of the Bipartisan Budget Act, the Self Plus One plan was established. This plan covers one employee / enrollee, plus one eligible family member that the enrollee designates to be covered.

This differs from other current plans. For example, with the Self Only plan, only the enrollee is covered by the benefits, whereas with the current Self and Family plan, the enrollment will provide coverage for the enrollee along with all of his or her eligible family members.

Considering a Self + 1 Plan

In most cases, changing plans is only allowed outside of enrollment Open Season if a participant has what is considered to be a “qualifying event” in their life. This can include events such as a:

  • Marriage or divorce
  • Birth of a child
  • Change in employment status

However, because the new Self Plus One option because available as a new plan option, FEHB enrollees will essentially have what is a second chance to enroll in this coverage throughout the month of February 2016.

The February time frame does not apply to those who are federal employee annuitants, as well as certain others such as TCC (Temporary Continuation of Coverage) enrollees and those who do not participate in premium conversion. This is because these participants are allowed to decrease their plan enrollment at any time throughout the year.1

More about Paul Kalra, CFP, ChFC, CLU:

Paul Kalra has been providing financial services for over 25 years to doctors, business owners and others nearing or in retirement. After a successful career with John Hancock Financial Services,in 2002, Mr. Kalra founded his own firm, Signature America Financial Planning Services, Inc. in Lake Forest, CA.

In his practice as a financial planner, Paul Kalra has found that when people are nearing their retirement years, they are faced with confounding decisions about their retirement plans, 401(k)’s, IRA’s, Social Security, Medicare, life insurance, wealth-preservation and estate planning. What motivated him to focus his practice on helping people in their 50’s and 60’s was when Mr. Kalra began facing such decisions himself and realized that the answers would have been very tough if he were not a financial planner.

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