InsightsFrenzy.com | Discover Insightful Content

A guide to the Federal Employee Insurance Benefits program

The Federal Employees Health Benefits (FEHB) Program is a good deal that helps employees and their families to safeguard their health while serving the nation. While new plans are added to the already-existing broad range of Federal Employee Insurances, the Blue Cross-Blue Shield health plan is by far the most popular amongst Federal Employees from across the country.

Statistics reveal that less than 10% of Federal Employees switch plans each year; however, it is a good idea to take a fresh look at the list of Federal Employee Insurance plans with respect to changing needs.

A guide to the Federal Employee Insurance Benefits program

It would be ideal to examine existing and newer alternatives to gain from better coverage for lesser premium costs. During the open season, review your health insurance coverage on the basis of prevailing health conditions, financial position, and location of work or residence. Decide whether you need dental, vision, general health or life insurance. Else, would you prefer to enroll in the flexible spending account or long-term care insurance coverage? This is the best time to make changes if you are contemplating one.

The full rate chart is available on the official website for the various categories such as the ones mentioned below:

HMO (Regional Plans with Specific Service Areas)
Non-Postal Rates
U.S. Postal Rates
TCC and Former Spouse Rates
FFS (Fee-for-Service/Nationwide Plans)
Non-Postal Rates
U.S. Postal Rates
TCC and Former Spouse Rates

Under the Federal Employee Insurance Benefit scheme, depending on the plan that is chosen, apart from current and retired employees, their spouse (current and ex), children, parents, parents-in-law, and stepparents are also eligible to apply for health insurance coverage as long as the employee themselves are eligible to apply for coverage. This stands well even if they do not apply for it themselves.

Although the Office of Personnel Management (OPM) announced a marginal premium increase in 2018, they simultaneously minimized the revisions in out-of-pocket costs. Incorporated in the year 1960, the Federal Employees Health Benefits Program is not just the biggest insurance sponsored by a single employee but also the best scheme for all beneficiaries.

Disclaimer:

The content provided on our blog site traverses numerous categories, offering readers valuable and practical information. Readers can use the editorial team’s research and data to gain more insights into their topics of interest. However, they are requested not to treat the articles as conclusive. The website team cannot be held responsible for differences in data or inaccuracies found across other platforms. Please also note that the site might also miss out on various schemes and offers available that the readers may find more beneficial than the ones we cover.

Popular Articles

Top Pension Plans and Retirement Savings Options for Seniors

After retirement, managing finances without a regular income can be quite a challenge. In such instances, pension plans can act as a safety net for seniors. A pension plan is a financial tool that ensures that seniors have guaranteed incomes even after retiring.

Key takeaways of Social Security Disability Insurance

The government funds many federal programs that support the hardworking citizens of the country. Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) are some of these benefits that can be availed by any citizen or resident of the country who suffers from some form of disability.

Setting up a small business – Here’s how to manage payroll

It’s thrilling to own and manage a business, but when it comes to payroll management, you realize how daunting things can be. Any mistake on payroll can create serious financial trouble and directly impact your taxes.

Understanding Medicare Supplement Plans in the States of Minnesota, Massachusetts, and Wisconsin

Medicare is a federal health insurance program available for people who are above the age of 65, people with disabilities, and people suffering from End-Stage Renal Disease (ESRD). Health insurance is mandatory in the country, and Medicare is one of the popular options to provide the necessary health cover.

A Brief And Handy Guide To Marketplace Insurance

Have you thought of purchasing health insurance for you, your family or your employees? Have you given up that idea simply because there were way too many companies offering a million different plans and confusing you?

5 Alternatives To Medicare For Hearing Aid Assistance

5 alternatives to Medicare for hearing aid assistance Under original Medicare, you do not get insurance for hearing aids and other related services. With supplementary insurance, that is Part C, and your state’s Medicaid program, you can get cover for your hearing aid needs.