Open Season is the only time of the year that federal employees and retirees can make changes to their benefits plans without taking the drastic step of having a “qualifying life event” such as having a baby, getting married or divorced, moving to another state, or dropping dead – and it is almost here! 

This year, Open Season begins on Monday, November 10 and ends on Monday, December 8. During this period, Federal employees can elect to enroll in, change options or plans, reduce, or cancel enrollment in the Federal Employees Health Benefits (FEHB) program, Flexible Spending Account (FSA), and Federal Employees Dental and Vision Insurance Program (FEDVIP). All changes are effective January 1, 2009.

Health Benefits (FEHB)

The Office of Personnel Management (OPM) is the most complete source of information on the FEHB programs available.  The 2009 FEHB Premiums are available as PDF files and will tell you the biweekly and monthly premiums as well as the amount the government pays and the change in your portion of the premium compared to last year.

But premiums are not the only piece of information you want to consider when selecting a health plan. It is important to know if you will be required to satisfy a deductible, the coinsurance or copayment amounts for prescriptions and office visits, and what sort of medical care is covered. For this, you will want to look at the plan guides and brochures.

Comparing each plan by yourself can be a lot of work, but it is crucial that you understand what you have signed up for since you probably won’t be able to make changes for an entire year. OPM has a plan comparison tool that can help.  Also available this year during Open Season is tool from Asparity Decisions Solutions called PlanSmartChoice that was previously only available to employees from agencies that had purchased access to the program.

If you do nothing, you will continue to be enrolled in your current plan.  But keep in mind that this is also Open Season for the insurers – it is the only time of the year that they can change their premium rates and coverage.  So even if you are happy with your current plan and don’t want to change anything, make sure you verify that the premiums are still within your budget and the coverage still meets your family’s medical needs.

Flexible Spending Accounts (FSA)

A FSA is a program that allows employees to pay for eligible out-of-pocket health care and dependent care expenses with pre-tax dollars, giving the employee an immediate discount on these expenses.  It is important to remember that you must enroll each year in the FSA.  While your enrollment in other federal benefits will continue from year to year if you do nothing, your FSA election is effective for only one year at a time.  For more information on the different types of FSA programs available to federal employees and the benefits an FSA can provide you, go to FSAFED’s frequently asked questions page.

Dental and Vision Insurance (FEDVIP)

The Federal Employee Dental and Vision Benefits Enhancement Act of 2004 allows OPM to establish supplemental dental and vision benefits.  The employee pays the total cost of the premium but benefits from purchasing it at a group discount.  For more information, visit OPM and the BENEFEDS websites.