No FEGLI Open Season In Near Future

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By on December 11, 2011 in Human Resources, Pay & Benefits with 7 Comments

According to an OPM source, there will be no FEGLI open season in the near future.  In the past OPM has conducted FEGLI open seasons when there have been changes in FEGLI premiums.  The last open season in 2004 was held due to changes in optional FEGLI rates.

The FEGLI premium changes that will become effective on January 1, 2012 affect Option B and C for current employees and retirees.  The post retirement Basic FEGLI premiums also change for those who elect no reduction or the 50% reduction.  There will be no post retirement premium change for those who elect the 75% reduction.  The changes that affect active employees are not as large as they were in 2004, so that may be why OPM will not have an open season next year. 

Individuals considering changing their FEGLI coverage do not need to wait for an open season to do so.  An individual (actively employed or retired) can cancel or reduce FEGLI coverage at any time.  In addition, an employee can enroll in FEGLI or increase coverage due to a “qualifying life event” or by presenting evidence of insurability if it has been more than one year since they waived coverage.

More details on FEGLI (including a deeper explanation of the above information) can be found at http://www.opm.gov/insure/life.

Agencies can request to have John Grobe, or another of Federal Career Experts' qualified instructors, deliver a retirement or transition seminar to their employees. FCE instructors are not financial advisers and will not sell or recommend financial products to class participants. Agency Benefits Officers can contact John Grobe at [email protected] to discuss schedules and costs.

© 2017 John Grobe. All rights reserved. This article may not be reproduced without express written consent from John Grobe.

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About the Author

John Grobe is President of Federal Career Experts, a consulting firm that specializes in federal retirement and career transition issues. He is also affiliated with TSP Safety Net. John retired from federal service after 25 years of progressively more responsible human resources positions. He is the author of Understanding the Federal Retirement Systems and Career Transition: A Guide for Federal Employees, both published by the Federal Management Institute. Federal Career Experts provides pre-retirement seminars for a wide variety of federal agencies.

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