The Office of Personnel Management has announced changes in premiums for certain Federal Employees’ Group Life Insurance (FEGLI) categories. These include changes to premiums for Option B (most age bands), Option C (all age bands), and Post-Retirement Basic Insurance. The new rates will be effective the first pay period beginning on or after January 1, 2012.
OPM periodically analyzes the rates to see if they need adjusting to bring in the income necessary to pay for expected future benefits costs. Based on the latest analysis, OPM determined that changes were necessary to Option B, Option C, and the Post-Retirement Basic groups.
Some premiums have decreased. Premiums for all age bands below age 75 went down in the Option B group, and premiums under age 45 in the Option C group will decrease.
The new FEGLI premiums are included in the tables below.
Option A
No changes
Option B Premium per $1,000 of Insurance
| 2012 | 2011 | Change | ||||
| Age Band | Biweekly | Monthly | Biweekly | Monthly | Biweekly | Monthly |
| Under 35 | $0.02 | $0.043 | $0.03 | $0.065 | -$0.01 | -$0.022 |
| 35-39 | $0.03 | $0.065 | $0.04 | $0.087 | -$0.01 | -$0.022 |
| 40-44 | $0.05 | $0.108 | $0.06 | $0.130 | -$0.01 | -$0.022 |
| 45-49 | $0.08 | $0.173 | $0.09 | $0.195 | -$0.01 | -$0.022 |
| 50-54 | $0.13 | $0.282 | $0.14 | $0.303 | -$0.01 | -$0.21 |
| 55-59 | $0.23 | $0.498 | $0.28 | $0.607 | -$0.05 | -$0.109 |
| 60-64 | $0.52 | $1.127 | $0.60 | $1.300 | -$0.08 | -$0.173 |
| 65-69 | $0.62 | $1.343 | $0.72 | $1.56 | -$0.10 | -$0.217 |
| 70-74 | $1.14 | $2.470 | $1.20 | $2.60 | -$0.06 | -$0.13 |
| 75-79 | $1.80 | $3.900 | $1.80 | $3.90 | $0.00 | $0.00 |
| 80 and over | $2.40 | $5.200 | $2.40 | $5.20 | $0.00 | $0.00 |
The premiums for compensationers who are paid every four weeks are two times the biweekly premium.
Option C Premium per Multiple of Insurance
| 2012 | 2011 | Change | ||||
| Age Band | Biweekly | Monthly | Biweekly | Monthly | Biweekly | Monthly |
| Under 35 | $0.22 | $0.048 | $0.27 | $0.59 | -$0.05 | -$0.11 |
| 35-39 | $0.29 | $0.63 | $0.34 | $0.74 | -$0.05 | -$0.09 |
| 40-44 | $0.42 | $0.91 | $0.46 | $1.00 | -$0.04 | -$0.09 |
| 45-49 | $0.63 | $1.37 | $0.60 | $1.30 | +$0.03 | +$0.07 |
| 50-54 | $0.94 | $2.04 | $0.90 | $1.95 | +$0.04 | +$0.09 |
| 55-59 | $1.52 | $3.29 | $1.45 | $3.14 | +$0.07 | +$0.15 |
| 60-64 | $2.70 | $5.85 | $2.60 | $5.63 | +$0.10 | +$0.23 |
| 65-69 | $3.14 | $6.80 | $3.00 | $6.50 | +$0.14 | +$0.30 |
| 70-74 | $3.60 | $7.80 | $3.40 | $7.37 | +$0.20 | +$0.43 |
| 75-79 | $4.80 | $10.40 | $4.50 | $9.75 | +$0.30 | +$0.65 |
| 80 and over | $6.60 | $14.30 | $6.00 | $13.00 | +$0.60 | +$1.30 |
The premiums for compensationers who are paid every four weeks are two times the biweekly premium.
Annuitant Basic Premium per $1,000 of Insurance
| Election | Monthly withholding for each $1,000 of your BIA before age 65 | Monthly withholding for each $1,000 of your BIA after age 65 |
| 75% Reduction |
$0.3250 |
No cost |
| 50% Reduction |
$0.9650 |
$0.64 |
| No Reduction |
$2.2650 |
$1.94 |
Compensationer Basic Premium per $1,000 of Insurance
| Election | Withholding every 4 weeks for each $1,000 of your BIA before age 65 | Withholding every 4 weeks for each $1,000 of your BIA after age 65 |
| 75% Reduction |
$0.30 |
No Cost |
| 50% Reduction |
$0.89 |
$0.59 |
| No Reduction |
$2.09 |
$1.79 |
