Is it Good or Bad News … or Just News? by Dianna Tafazoli

Federal employees are always pleased to hear good news that will potentially benefit them and their families.  Whether the fed is new to the workforce or living in retirement, health benefits are one of the most important incentives for becoming a Federal employee.

• Also Read: Pre-Retirement Life Insurance Planning: How Federal Employees Can Estimate Coverage and Adjust Policies
• Also Read: Keeping FEHB in Retirement—the Five-Year Rule: A Case Study for Federal Retirees
• Also Read: IRMAA Surcharges: Best Practices for Federal Retirees and Public Employees

Gas prices went down over the summer and it appears they are still respectable at this writing without squeezing the purse strings of the average American.  We are still able to drive our vehicles and not leave them in the garage because the cost of gasoline is too high to afford.  I don’t think grocery is getting higher except if you still want to purchase things like blueberries that are now out of season.  The cost of about 20 blueberries in a container will set you back by about $7.00 in the Northern Virginia area.  You could buy frozen berries and just wait until next summer when the berries are more plentiful to avoid the exorbitant cost..

Federal workers don’t have such an easy choice when it comes to the cost of health care –  buy it now or wait until next summer.  The Office of Personnel Management (OPM) has announced that  premiums for health care benefits will rise by an average of 6.4 percent for the 2016 program.  The new category of coverage Self Plus One will be available starting in the 2016 enrollment offering.

Nobody wants to hear of a price hike, but even with the rise in health care benefits for Federal employees, the premiums paid by these workers are the best in the nation because of the size of the group.  Great health care premiums are still affordable for most Federal employees.

P. S. Always Remember to Share What You Know.

Dianna Tafazoli