Benefits
Benefits Specialists / Programs
What Specialists Are Available To Help Federal Employees With Benefit Selections
Individuals charged with overseeing benefits and helping to organize benefits and health-care fairs receive information needed each year from OPM in order to make Open Season happen in their individual agencies. These personnel receive from the Office of Health Care and Insurance:
Guides on Rider Information
Information booklets and materials- how to order the materials and distribute them during Open Season.
Information and directions on how to conduct the Open Season both in general and agency specific.
Significant event information is also distributed to agency personnel tasked with conducting the Open Season and
Information impacting specific plans in FEDVIP and FEHB.
Often times employees not tasked with Open Season responsibilities do not appreciate the tremendous amount of time and preparation that goes into making the Open Season happen. The personnel under the guidance of the Office of Health Care and Insurance must be able to answer a series of questions and inquiries to include contact information about participating carriers.
The Office of Health Care and Insurance provides FastFacts on Federal Benefits and so many other factors relevant to helping Federal employees make wise and cost conscious decisions about what is best for them and their families.
P. S. Always Remember to Share What You Know.
Open Season Related Articles
What You Can Do In Open Season
Open Season is an annual event for Federal employees. During Open Season, employees may do the following:
Enroll in a flexible spending account program (FSAFEDS) which is a health care and/or dependent care account. Participation in the program requires enrollment each year. The program does not continue like FEHB and FEGLI without re-enrollment. The maximum annual election for the Health Care Flexible Spencing Account and the Limited Expense Health Care Flexible Spending Account is $2,500 for 2015.
The maximum annual election for 2015 is $5,000 for a Dependent Care Flexible Spending Account. Also the minimum election for the flexible spending account has changed from $250 to $100 for 2015.
Employees can also enroll, change, of cancel an existing enrollment in their dental and/or vision plans under FEDVIP. The same holds true for the health plans under FEHB. There is no Open Season for life insurance under FEGLI.
P. S. Always Remember to Share What You Know.
Open Season Articles
Time To Gear Up For Open Season
Postal LiteBlue and Open Season
What Federal Employees Need Prior to Open Season
2014 Open Season
2014 Open Season for Federal Employees
Active Federal & Postal employees, retirees and their families should be on the look-out for Open Season which starts Monday, November 10, 2014 and continues through Monday, December 8, 2014. Open Season allows Federal Employees to make changes and add a qualified family member to their plan among other things. It is also a time to speak with your carrier and the FEHB representatives in your agency to ask questions and seek counsel about your benefits plan.
The Open Season covers health benefits (FEHB), dental and vision (FEDVIP), the flexible spending account (FSAFEDS). In order to help the process of choosing a suitable plan for you and your family, OPM has compiled a Summary of Benefits and Coverage (SBC). The SBC allows employees to make comparisons in costs, coverage, deductibles, co-pays, and out of pocket limits. The SBC also outlines for employees what services are available and covered and what services are not available and therefore not covered under a particular plan.
OPM offers the SBC for ease of comparison and a short-hand version of the many plans offered to Federal employees. However, in order to get a more detailed understanding of the plans and what they offer, it is always recommended that employees review and evaluate the plan brochure of the provider they are interested in.
There will most likely be a number of health fairs employees can attend in order to gain additional information. Also don’t forget about the use of the website to see what your plan covers. All FEHB plans are on OPM’s website for the convenience of all Federal employees, active and retired.
P. S. Always Remember to Share What You Know.
Open Season Articles
Time To Gear Up For Open Season
Postal LiteBlue and Open Season
What Federal Employees Need Prior to Open Season
Will Insurance Premiums Rise For Federal Employees?
How Are My Benefits Handled If I Transfer Systems
TransFERS
Federal employees under the old civil service system – CSRS and the interim plan CSRS Offset had the option during two open seasons (1987 and 1998) to transfer to the new retirement system – FERS. Another condition was also possible to make the transfer – reemployment. If you were rehired under CSRS or CSRS Offset within 6 you could transfer to FERS; however, making the election would involve doing some administrative housekeeping where the following rules would apply:
Federal Employees: Rules for Transferring to FERS
-All survivor and disability benefits would be paid under the rules governing FERS.
-When you enroll in FERS you will have Social Security coverage.
-The combined service credits for both CSRS and FERS will count towards the years needed to qualify for retirement, disability, survivor benefits and the Thrift Savings Plan benefits under the Federal Employees Retirement System.
-The credit you earned in CSRS will be effectively frozen. Your combined CSRS and FERS annuity will still be based on the average of the highest three consecutive years of earnings.
-Now that you are covered under FERS you will receive Government contributions to your TSP account.
-A full Civil Service Retirement System (CSRS) COLA will be received on the CSRS’s portion of your annuity.
-Unused sick leave is credited under CSRS rules based on the accrued amount of sick leave at the date of transfer or at retirement. The lesser number will be used.
-Once you have transferred to FERS from CSRS or CSRS Offset your service will be treated under the FERS plan
In addition, when you transfer to FERS with 5 years or less of non-Offset CSRS service all of your service will be treated under the rules governing FERS.
When you convert from an appointment that is excluded from FERS coverage to an appointment that is covered under FERS you will automatically be covered by the Federal Employees Retirement System. If you are not automatically covered you will have a 6-month window to transfer to the retirement system.
P. S. Always Remember to Share What You Know.
Open Season Articles
Time To Gear Up For Open Season
Postal LiteBlue and Open Season
What Federal Employees Need Prior to Open Season
Will Insurance Premiums Rise For Federal Employees?
