The Office of Personnel Management announced this week that the premiums for certain categories under the Federal Employees Group Life Insurance (FEGLI) program are being instituted effective October 1, 2021. Some premiums are increasing, but others are going down.
Changes to FEGLI Premiums
New premiums will apply to the Basic, Option A, Option B, Option C and the Post-Retirement Basic Options under FEGLI. They will take effect the first pay period on or after October 1.
Tables with the new and current premiums are included below for reference along with each plan option that is undergoing premium changes.
The Office of Personnel Management also has a listing of both current and historical FEGLI premiums on its website. The last change to premiums was in 2012.
Employee Basic Insurance (per $1,000 of Insurance)
The new premiums for the Basic insurance option under FEGLI are as follows:
| Bi-weekly | Monthly | |
|---|---|---|
| Employee | $0.1600 | $0.3467 |
| Government | 0.0800 | 0.1733 |
| Total | 0.2400 | 0.5200 |
Currently, the premiums for the Basic option are $0.15 biweekly and $0.325 monthly for all ages.
Option A (for $10,000 of Insurance)
The new premiums for Option A under FEGLI are as follows; current (0ld) figures are included for reference:
| Age Group | Biweekly (New) | Monthly (New) | Biweekly (Old) | Monthly (Old) |
| Under 35 | $0.20 | $0.43 | $0.20 | $0.43 |
| 35–39 | $0.20 | $0.43 | $0.30 | $0.65 |
| 40–44 | $0.30 | $0.65 | $0.40 | $0.87 |
| 45–49 | $0.60 | $1.30 | $0.70 | $1.52 |
| 50–54 | $1.00 | $2.17 | $1.10 | $2.38 |
| 55–59 | $1.80 | $3.90 | $2.00 | $4.33 |
| 60+ | $6.00 | $13.00 | $6.00 | $13.00 |
Option B (per $1,000 of Insurance)
The new premiums for Option B under FEGLI are as follows; current (0ld) figures are included for reference:
| Age Group | Biweekly (New) | Monthly (New) | Biweekly (Old) | Monthly (Old) |
| <35 | $0.02 | $0.043 | $0.02 | $0.043 |
| 35-39 | $0.02 | $0.043 | $0.03 | $0.065 |
| 40-44 | $0.03 | $0.065 | $0.04 | $0.087 |
| 45-49 | $0.06 | $0.13 | $0.07 | $0.152 |
| 50-54 | $0.10 | $0.217 | $0.11 | $0.238 |
| 55-59 | $0.18 | $0.39 | $0.20 | $0.433 |
| 60-64 | $0.40 | $0.87 | $0.44 | $0.953 |
| 65-69 | $0.48 | $1.04 | $0.54 | $1.170 |
| 70-74 | $0.86 | $1.86 | $0.96 | $2.080 |
| 75-79 | $1.80 | $3.90 | $1.80 | $3.900 |
| 80+ | $2.88 | $6.24 | $2.64 | $5.720 |
Option C (per Multiple of Insurance)
The new premiums for Option B under FEGLI are as follows; current (0ld) figures are included for reference:
| Age Group | Biweekly (New) | Monthly (New) | Biweekly (Old) | Monthly (Old) |
| <35 | $0.20 | $0.43 | $0.22 | $0.48 |
| 35-39 | $0.24 | $0.52 | $0.27 | $0.59 |
| 40-44 | $0.37 | $0.8 | $0.41 | $0.89 |
| 45-49 | $0.53 | $1.15 | $0.59 | $1.28 |
| 50-54 | $0.83 | $1.8 | $0.92 | $1.99 |
| 55-59 | $1.33 | $2.88 | $1.48 | $3.21 |
| 60-64 | $2.43 | $5.27 | $2.7 | $5.85 |
| 65-69 | $2.83 | $6.13 | $3.140 | $6.80 |
| 70-74 | $3.83 | $8.30 | $3.830 | $8.30 |
| 75-79 | $5.76 | $12.48 | $5.260 | $11.40 |
| 80+ | $7.80 | $16.90 | $7.200 | $15.60 |
Post-Retirement Basic Insurance for Annuitants
The new premiums for post-retirement basic insurance under FEGLI are as follows; current (0ld) figures are included for reference:
| Before age 65 (New) | After age 65 (New) | Before age 65 (Old) | After age 65 (Old) | |
| 75% Reduction | $0.3467 | No cost | $0.3250 monthly | No cost |
| 50% Reduction | $1.0967 | $0.75 | $1.0350 monthly | $0.71 monthly |
| No Reduction | $2.5967 | $2.25 | $2.4550 monthly | $2.13 monthly |
Post-Retirement Basic Insurance for Compensationers
Before age 65 | After age 65 | |
|---|---|---|
| 75% Reduction | $0.32 | No cost |
| 50% Reduction | 1.01 | $0.69 |
| No Reduction | 2.39 | 2.07 |
