What should Federal Employees know to help them make informed decisions?
This year, the annual open enrollment for Federal benefits will be from Monday, November 12, 2018, through Monday, December 10, 2018.
This is a time when Federal employees and retirees can change their healthcare benefit plans or options for the coming year.
Keep in mind, the two programs that do not participate in the annual open enrollment are the Federal Employees’ Group Life Insurance program (FEGLI) and the Federal Long Term Care Insurance program (FLTCIP).
Before you consider making changes to your benefits, it’s important to understand as much as possible about what is and isn’t available.
Over the years, we at F.F.E.B.A. have had a lot of questions from attendees of our workshops and subscribers about open enrollment and how their decisions will affect their lives. While everyone at our events come with similar questions, the answers are different from one case to the next.
- What happens to your income if a serious illness, accident or medical condition renders you unable to work?
- Do my benefits cover the cost of all treatments and rehabilitation should I be affected by Cancer, have a stroke, or come down with any other major health concern?
- Do my benefits offer anything to help offset some of the additional “out-of-pocket” expenses I would incur during the recovery from an extended illness?
- Will my insurance cover all of my claims? Or, how much is the deductible on my current plan?
- Does my life insurance cover enough to counteract the costs of my illnesses and continue the standard of living for my family?
During open enrollment, it’s important to consider all of these questions when thinking about your options and F.F.E.B.A. is here to help make sure you get all of the answers. By filling out the survey below, we will have one of our staff members reach out to you and make sure that one of our representatives helps you uncover the right options for you and your loved ones.
There is a lot to consider during the open enrollment season and the decisions we make now can affect how the next year will go. This is why F.F.E.B.A. and our network of representatives are here to lend a helping hand.
Knowing the facts before you make your decision can make all the difference in your time of need.
How To Determine If You Need Supplemental Insurance
Carefully review your FERS and CSRS healthcare benefit plans to identify any potential gaps in your healthcare coverage. It’s also important to consider if your family health history includes repeated incidents of certain types of critical illnesses your current insurance may not adequately cover.
Remember – it may not be necessary to duplicate any of the Federal benefits you already have. However, a supplemental insurance strategy may be beneficial for you and your family.
If you have any questions about supplemental insurance, fill out the following request form and one of our financial professionals will contact you.
By clicking submit, you will be referred to a F.F.E.B.A Network Representative who is knowledgeable about open enrollment options. Typically these individuals are independent insurance agents. The insurance agent may sell you a life insurance or an annuity policy.
This information is being provided only as a general source of information and is not intended to be the primary basis for financial decisions. It should not be construed as advice designed to meet the needs of an individual situation. Please seek the guidance of a professional regarding your particular financial needs. Consult with your tax advisor or attorney regarding specific tax or legal advice.