Feds Urged to Review Health Coverage, Benefits in this Open Season
It’s open enrollment season for federal employees. That means now is the time to select health insurance and other benefits, or to make changes to existing coverage, without having a qualifying life event.
This year open season for federal employees runs from November 11th through December 9, 2024.
“During Open Season, we want to give enrollees the opportunity to review their coverage, compare coverage options and make the choice that is right for them – whether that may be to make changes or keep their current coverage,” said Office of Personnel Management (OPM) Acting Director Rob Shriver.
To help employees with their options, OPM is running a virtual benefits fair featuring live chats with carriers during open enrollment.
130 Plan Options
For 2025, the Federal Health Employees Benefits (FEHB) Program has 42 carriers offering 64 plans and a total of 130 plan options.
There are also 12 dental and five vision carriers.
All health plans offer an expansion of fertility coverage by covering artificial insemination and the drug components of IVF for up to three cycles. 25 of the plans provide enhanced IVF coverage.
However, the pause on new enrollments into the Federal Long Term Care Insurance Program (FLTCIP) will continue for another two years due to “volatility in long-term care costs and a diminished insurance market.”
Postal Service Health Benefits (PSHB) Program
2025 will see the inaugural launch of the Postal Service Health Benefits (PSHB) Program, which is replacing FEHB for postal service employees.
To avoid gaps in coverage with the plan switch, OPM is automatically enrolling more than 90 percent of postal employees into the PSHB plan that most closely resembles their current FEHB plan, although participants can make other plan selections during open enrollment. PSHB will cover nearly two million Postal employees and annuitants, along with their eligible family members.
“We’ll have information on enrollee eligibility, a plan comparison tool, a table that shows how we’ve mapped the FEHB plans to the Postal Service plans, specific descriptions of any plan and information on the newly developed PSHB system,” said OPM Acting Director Shriver in an interview with Federal News Network.
This program is larger than any other exchange rolled out under the Affordable Care Act.
Focus on Costs
When it comes to analyzing plans, OPM is aware that many employees focus on health care costs, which are rising. For 2025, premiums for FEHB participants will rise by an average of 13.5 percent, while PSHB premiums will rise by 11.1 percent.
It’s the highest annual premium increase for participants in well over a decade.
“If you’re somebody who is concerned about an increase in the premium in the plan you’re currently enrolled in, you are exactly the kind of person who should be taking a look at the other options that are available to you this Open Season,” said Acting Director Shriver.
The FEHB Program provides healthcare benefits for about 8.3 million individuals, including 2.3 million employees, 1.9 million annuitants, and an estimated 4.1 million family members.