Not affiliated with The United States Office of Personnel Management or any government agency

Not affiliated with The United States Office of Personnel Management or any government agency

Financial Planning Aubrey Lovegrove

FEHB Plan Options Standardized by OPM

[vc_row][vc_column width=”2/3″ el_class=”section section1″][vc_column_text]A final rule was published by The Office of Personnel Management in the Federal Register in which, what it called an ”asymmetry in the insurance market for Federal employees and annuitants,” had been corrected.

The rule impacts the Federal Employee Health Benefits Program (FEHB) and was published and made effective on April 27, 2018.

What Changes are to be Expected?

OPM regulations currently have varying options when it comes to minimum standards for FEHB health plans. On one hand, some plans include two options along with a high deductible health plan. However, other plans could have three options of any kind or two options with a high deductible health plan, creating an asymmetry between the health benefits plans potential offerings.

The regulations are being changed by OPM so that all health benefit plans can potentially offer three options or two options and a high deductible health plan.

What Could This Mean for Participants of FEHB?

Federal employees that participate in FEHB could potentially see two new plan options as a result of this change, according to OPM. This regulatory change is expected by OPM to have a positive effect on the market dynamics in the FEHB program as it could increase the competition between health plans, potentially resulting in the offering of a larger variety of low-cost/high-quality options.

OPM’s goal is to make sure that the new options meet enrollee interests, and also to ensure that these enrollees have the necessary access to the information needed to understand the plan options that are available so that they can make the best decision.

If you have any questions regarding your FEHB coverage, then it would be wise to reach out to an advisor that can explain and clarify everything and help you make the best-educated decision possible.[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_single_image image=”34354″ img_size=”292×285″ style=”vc_box_shadow”][/vc_column][/vc_row]

Search for Public Sector Retirement Expert.

Receive the Best advice.

PSR Experts can help you determine if Public Sector Retirement is right for you or if you should look for alternatives.

The Best Advice creates
the best results.

Recent Articles

Law Enforcement Retires Early—But Not Without These Rarely Mentioned Tradeoffs

Key Takeaways While law enforcement officers (LEOs) can retire earlier than most public employees, this benefit comes with lesser-known financial...

Why the FERS Supplement Is Still a Lifeline for Early Retirees—But a Risky One

Key Takeaways The FERS Supplement can provide critical financial support between retirement and age 62 but comes with income limits...

You May Be Eligible for Medicare Soon—Here’s How It Affects Your Other Coverage

Key Takeaways Turning 65 or becoming Medicare-eligible doesn’t automatically cancel your existing health coverage, but it does affect how your...

Search For Public Sector Retirement Expert

Receive the Best advice.

PSR Experts can help you determine if
Public Sector Retirement is right for you or if you should
look for alternatives.

The Best Advice creates

the best results.

Subscribe to our Newsletter

"*" indicates required fields

Our Readers Deserve The Best PSHB and USPS Health Benefits Guidance

Licensed insurance agents who understand PSHB, Medicare, and USPS Health Benefits Plan are encouraged to apply for a free listing.

This field is for validation purposes and should be left unchanged.

Book Phone Consultation

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Get In Touch

Stay up to date on the latest information about Public Sector Retirement.

The Best Advice Creates The Best