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May 7, 2024
Federal Employee Retirement and Benefits News
The U.S. Department of Defense has announced higher health insurance premiums for TRICARE’s Young Adult plan. TRICARE Young Adult is a health plan for certain young adults who are children of military personnel and retirees. Beginning January 1, 2016, for TRICARE’s Young Adult Prime option, rates will increase to $306 per month; and, for TRICARE’s Young
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Due to the newly published rules that will give rise to the 13 new locality pay areas thereby expanding the prevalent ones in the process too, around a million federal employees will get their hands on an extraordinary pay rise come January! This general schedule pay system is applicable to the incomes of around 1.6
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On Monday, November 1, President Obama signed legislation that averts what, for many federal retirees, would have been a very large increase in their Medicare Part B insurance premiums. Instead of facing a $50 plus increase, federal retirees who do not receive Social Security payments will see an increase of about $19 a month. This
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The Senate averted a potential government shutdown by passing a two-year budget that raised the debt ceiling. The package will now go to President Obama for approval. Congress passed the bill to prevent the nation from reaching its debt limit. Conservatives opposed the bill, which involved a month-long negotiation and puts off another debt
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