The Office of Personnel Management has announced a rare event: there will be an open season in the near future for the Federal Employees’ Group Life Insurance Program (FEGLI).
FEGLI life insurance open seasons are extremely rare. The most recent FEGLI open seasons were held in 2004 and 1999.
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. Eligible employees may elect changes by electronic means where this option is available through their employing agency. Subject to FEGLI law and regulation, including applicable pay and duty status requirements, the effective date for changes to FEGLI coverage under an Open Season election will be delayed one full year to the beginning of the first full pay period on or after October 1, 2017.
Effective January 1, 2016, FEGLI premium rates will change for some types of coverage. The documents below from OPM provide details on the rate changes.
My special thanks to FedSmith.com author and president of Federal Career Experts John Grobe for providing much of the information in this post.
FEGLI open season details from OPM
