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By MICHAEL GENNARO
Editorial Intern
REMINDER
BENEFITS OPEN SEASON
ENDS 5:00 PM EASTERN TIME!!!!
BE SURE TO MAKE YOUR CHOICES
Office of Personnel Management Director Kiran Ahuja urged federal employees to check their finances and reassess their benefits during the upcoming federal benefits Open Season, which runs Nov. 14 through Dec. 12.
2.5% of enrolled workers changed health coverage in 2021’s Open Season, with 0.6% of enrollees switching health insurance carriers. “Tens of thousands of enrollees are potentially leaving valuable savings on the table by not taking advantage of Open Season to review their health care coverage and ensure they are receiving the most out of their benefits for themselves and their family,” Ahuja stated in a press release. “Ask yourself – how have my or my family needs changed this past year, and then utilize the Open Season enrollment period to conduct a wellness or financial check-up to make an informed decision that gets you the best care.”
Those with upcoming surgeries, children on the way, prescription medication and vision care needs are encouraged to take that into account during Open Season, and plan accordingly. It’s estimated that
Federal employees can save money through the Federal Flexible Spending Account Program, FSAFEDS, which allows workers to set aside an annual pre-tax amount that they estimate spending on out-of-pocket health care costs. In 2022, less than 20% of employees across agencies used the FSAFEDS program, according to OPM.
The Federal Employee Health Benefits Program has over 8 million enrollees, making it the largest employee-sponsored health benefits program in the world. The overall increase in premiums for most FEHBP enrollees is 7.2% for 2023.
The FEHBP features 271 health plans for 2023. OPM asked FEHBP carriers to focus on COVID-19, telehealth, maternal health, gender-affirming care and services, obesity, preventive services, assisted reproductive technology, and medical foods.
Feds can find FEHBP information and compare plans on OPM’s website.
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