During the open season you will have the opportunity to increase your fegli coverage without the need for health underwriting. The upcoming open season will be from september 1, 2016 through september 30, 2016 during this time, eligible employees can elect or increase their fegli life insurance by submitting an election to their human resources office. In 2016, due to the change in premiums that took effect this month, there will be another open. Eligible employees may notice that some fegli premiums are slightly different, he added, but the changes are not the reason for this years open. The most recent fegli open seasons were held in 2004 and 1999. Fegli premium rates change for 2016 fed retirement planning. It will be held in sept 2016, and will allow all enrollees in the fegli program to modify their coverage amounts and the options they have signed up for. The office of personnel management opm will hold a federal employees group life insurance program fegli open season from september 1, 2016, through september 30, 2016. Why is opm holding an open season for the fegli program. Healthy, senior federal employees should beware of fegli open season. Fegli premium rates are assessed based on program experience in. The fegli open season offers federal employees the opportunity to. Aug 31, 2016 rare life insurance open season for federal employees beginning. Federal employees group life insurance fegli open season.
During this fegli open season, you can enroll in or increase. Government contribution toward the cost of basic coverage for most employees. Fegli open season is available only to active employees who were hired. United states office of personnel management the federal. Fegli rate changes annuity adjustments federal employees. With the insurance open season in full affect, it is important to lay out all the details you need to know. For the first time in 12 years, the federal employees group life insurance fegli will be having an open season. When is fegli open season and how do i participate. Fegli stands for federal employees group life insurance. Aug 07, 2015 fegli life insurance open seasons are extremely rare. September 2016 fegli life insurance open season youtube. Jan 28, 2016 the last fegli open season was in 2004, in connection with the 50th anniversary of the program. Any new premiums will not be payable until october 1, 2017.
Fegli option b allows federal employees to insure 15 times salary. Fegli open season 2016 september 7, 2016 in blog by fedsavvy. For more information about the physical exam, please see sf 2822. While employees will be able to enroll or change their enrollment coverage, they wont be able to alter the amount of their basic insurance. In conjunction, the new 2016 premiums rates for fegli plans were also announced during the monthlong open season, eligible federal. Later in the show, mike will talk about the fegli plan, and alternatives like waepa. Hrpay 1611, federal employees group life insurance. Opm starts first open season for federal group life insurance in 12. Updates on premium rate decreases for optional insurance and the full list of fegli premium rates effective january 1, 2016, may be found in the handbook section entitled, cost of insurance. In the section, post 65 reductions in the amount of insurance, premiums for postage 65 reductions in the amount of basic and optional coverage. The effective date for employees in an active pay status who make the fegli open season election will be delayed one full year to october 1, 2017, subject to fegli law and regulation, including applicable pay and duty status requirements. Coverage elected during the open season will be effective the first pay period beginning on or after october 1, 2017.
Opm allows federal employees group life insurance open. While it is possible to apply for fegli at any time by undergoing a physical exam, this avenue does. Evaluating life insurance coverage outside of open season. Annuitants that carried fegli coverage into retirement will receive a notice of annuity adjustment showing the new rates. If eligible, the federal government pays onethird of the cost of your basic insurance. If you are approaching retirement this is an excellent time to take advantage of low cost insurance options that you may not have thought of when you first. No changes to the premium rates for basic insurance. Federal employees group life insurance programopen season poster. A fegli life insurance open season has been scheduled for september 1 through september 30, 2016.
New fegli premium rates as of january 1, 2016 postal. During the month of september 2016, if you are a federal employee eligible for fegli, you can elect any coverage that fegli offers, including option c coverage. Fegli open season considerations federal employees. Previous fegli open seasons were held in 1999 and 1992. Sep 09, 2016 the thrift savings plan allocation guide forums message board fegli open season this topic has 3 replies, 2 voices, and was last updated 3 years, 1 month ago by steve m.
Aug 11, 2016 the fegli open season will be held from sept. No, the types of coverage available during the fegli 2016 open season will be the same as currently available coverage. No one knows when the next one might be, so be sure to take advantage of this fegli 2016 open season. During the open season, feglieligible employees can enroll in fegli or increase coverage up to the maximum amount offered by the program.
Oct 01, 2015 opm is going to hold the 2016 fegli open season from september 1, 2016 to september 30,2016. The federal employees group life insurance program, fegli, is having an open season from september 1 through september 30, 2016. Open season is not needed to decrease your fegli coverage. The fegli open season will be held from september 1, 2016 through. Oct 23, 2019 updates on premium rate decreases for optional insurance and the full list of fegli premium rates effective january 1, 2016, may be found in the handbook section entitled, cost of insurance. It has been 12 years since the last open season and, i guess, fegli thought it was time for another one. Federal register federal employees group life insurance. Beginning september 1, 2016, eligible federal employees will be able to increase their fegli benefits without regard to medical concerns. Opm is going to hold the 2016 fegli open season from september 1, 2016 to september 30, 2016. The federal employees group life insurance program fegli open season will run september 1, 2016 through september 30, 2016. While its not open season for life insurance, its a perfect time to evaluate your coverage. Why the 2016 fegli open season may not help nearretirees. During an open season, an employee is guaranteed enrollment and does not have to provide any evidence of medical insurability. Federal employees group life insurance open season september.
Fegli basic rates remain consistent while you are working and then change significantly at retirement. Fegli program open season september 1 30, 2016 it doesnt happen often, but when it does, make sure that your family has enough protection. During the entire month of september 2016, eligible federal employees can elect any fegli coverage or change current elections. One advantage to the fegli open season is the lack of medical underwriting. Sep 07, 2016 healthy, senior federal employees should beware of fegli open season. Aug 07, 2015 the fegli open season will be held from september 1, 2016 through september 30, 2016. The office of personnel management opm announced a 2016 fegli open season that runs from september 1, 2016 through september 30, 2016. Therefore, an employee must have the new coverage for the five years of service immediately before retiring or starting to receive compensation to continue that coverage as an annuitant or compensationer. If you dont have private insurance for your spouse this coverage will fill the gap. In an open season, an employee can enroll without having to go through underwriting.
Determine the face value of various combinations of fegli coverage. For the first time in 11 years, the office of personnel management, or opm, is allowing open season and announced new 2016 premiums rates for the federal employees. Changes made during fegli open season take effect after a oneyear delay, so changes made during the 2016 fegli open season will not be reflected until october 1, 2017. Rare life insurance open season for federal employees. The cost for multiples increase dramatically, from. Sep 06, 2016 once the open season ends, people applying for fegli will have to take physicals. Rare fegli open season announced faa managers association.
Learn more today and enroll, because you never know when the next open season will be. As of january 1, 2016, fegli premiums for many options and age brackets changed due to actuarial adjustments. What this means is federal employees who are elegible have the opportunity to increas their fegli life insurance. Decreases in most premium rates for options a, b, and c. The last open enrollment was in 2016, and the one before was in 2004. Rare life insurance open season for federal employees beginning. Aug 06, 2015 the personnel agency will hold an open enrollment season in september 2016 to allow changes in coverage, although those choices wont take effect until october 2017.
Rates revised 11 2016 and may change in the future. Some federal employee life insurance rates to rise. September 1 30, 2016, as an eligible federal employee you. For the first time in 12 years, the federal employees group life insurance program fegli is having an open season.
In conjunction, the new 2016 premiums rates for fegli plans were also announced. Healthy senior federal employees should beware during fegli open season. Opm allows federal employees group life insurance open season. The upcoming fegli open season will be held next fall, from september 1, 2016 to september 30, 2016. Premiums for employees basic insurance will not change and most rates. The personnel agency will hold an open enrollment season in september 2016 to allow changes in coverage, although those choices wont take effect until october 2017. The thrift savings plan allocation guide forums message board fegli open season this topic has 3 replies, 2 voices, and was last updated 3 years, 1 month ago by steve m. Federal employees group life insurance open season. Federal employees group life insurance programopen season. Opm is going to hold the 2016 fegli open season from september 1, 2016 to september 30,2016. In addition to these and other changes in the rates for federal employee life insurance, opm will also announce the next fegli open season. Opm periodically holds an open season for the fegli program to allow feglieligible employees to enroll in or increase their life insurance coverage. Aug 21, 2015 for the first time in 11 years, the office of personnel management, or opm, is allowing open season and announced new 2016 premiums rates for the federal employees group life insurance, or fegli. In fact, there have been only 9 open seasons up to now since 1954.
Rates effective the first pay period beginning on or after january 1, 2016. Fegli optional costs continue to increase every five years. While fegli with its group rates is a good deal for many employees, young and healthy employees have other options, including waepa where they can get more coverage at lower cost. Aug 22, 2016 one advantage to the fegli open season is the lack of medical underwriting. The fegli open season will be held from september 1, 2016 through september 30, 2016. Your fegli life insurance for annuitants and retiring employees duration. Jul 12, 2016 september 2016 fegli life insurance open season u. According to opm, effective january 1, 2016, fegli premium rates will change as follows.
Viewing 4 posts 1 through 4 of 4 total author posts september 9, 2016 at 10. Most of the new fegli rates for option a, b and c decrease. A rare open season for life insurance government executive. Annuitants that carried fegli coverage into retirement will receive a notice of annuity adjustment showing the new rates most of the new fegli rates for option a, b and c decrease. The fegli open season brochure provides additional information about open season and what fegli offers. To allow fegli eligible employees to enroll in or increase their life insurance coverage, opm periodically holds an open season for the fegli program. You must submit an sf2817 to enroll in the fegli program or to changeincrease your current fegli coverage, without having a. During this time, eligible employees can elect to enroll or increase their fegli enrollment by submitting standard form 2817, life insurance election, to their human. Opm recently announced that a 2016 federal employees group life insurance fegli open season will be available to change your coverage starting september 1, 2016 through september 30, 2016. From september 1 through september 30, 2016, feglieligible employees.
Fegli life insurance open seasons are extremely rare. During open season, letter carriers and other federal employees may enroll in fegli, or increase their coverage, without taking a physical exam or waiting for. Open season is from september 1, 2016 through september 30, 2016. Premiums for employees basic insurance will not change and most rates for option a, b and c will decrease. Fegli life events are marriage, divorce, death of spouse.
The first week of fegli open season is off and running. During this time, eligible employees can elect or increase their fegli life insurance by submitting an election to their human resources office. Fegli open season 2016 jones wealth management group. The upcoming open season will be from september 1, 2016 through september 30, 2016. The fegli 2016 open season is not the first opportunity for electing coverage. You do not have to be currently enrolled to elect coverage during this open season. The last fegli open season was held during september 2016, and the open season held before that was exactly 12 years before during september 2004. Opm periodically holds an open season for the fegli program to allow fegli eligible employees to enroll in or increase their life insurance coverage. Fegli open season is available only to active employees who were hired in a benefitseligible position before october 1, 1987. Opm will hold a fegli open season from september 1, 2016 through september 30, 2016. Opms first fegli open season in 12 years will run from sept. These changes will be effective the first pay period beginning on or after january 1, 2016. Opm effective the 2116 payment for the month of january, opm has announced the new fegli premium rates pdf file 42.
The federal employees group life insurance program, fegli, is having an open season from september 1, 2016 through september 30, 2016. Effective january 1, 2016, fegli premium rates will change for some types of. If you have any kind of medical condition that might affect your ability to get insured elsewhere, it might be prudent to sign up for the increased fegli now. The last fegli open season was in 2004, in connection with the 50th anniversary of the program. For more information, please visit the life insurance page. Outside of an open season, eligible employees can enroll or increase their coverage by taking a physical exam or with a qualifying life event. Officials said the fegli open season is not linked to the recent premium changes but rather to the. Aug 08, 2016 healthy senior federal employees should beware during fegli open season. Fegli open season is taking place september 1 30, 2016. These rates will be effective the first pay period beginning on or after january 1, 2016. These rates will be effective the first pay period beginning on. Fegli rate changes take effect the first pay period beginning on or after january 1, 2016.