Some FEGLI rates to increase
- By FederalSoup Staff
- Aug 14, 2015
The Office of Personnel Management this month announced changes to premium rates for some types of Federal Employees’ Group Life Insurance Program (FEGLI) coverage, effective Jan. 1, 2016.
According to an Aug. 7 Benefits Administration Letter released by the agency, there will be no changes to premium rates for Basic Insurance for employees. OPM also said most premium rates for Option A, Option B, and Option C FEGLI coverage will decrease.
However, premium rates for Post-Retirement Basic Insurance with 50 percent Reduction and No Reduction will increase, as will rates for older age bands of Options B and C.
According to the notice, OPM will hold a FEGLI open season from Sept. 1, 2016 through Sept. 30, 2016, when eligible employees can elect or increase their FEGLI coverage. OPM reminded that annuitants are not permitted to increase coverage, even during an open season.
Get more information at: https://federalregister.gov/a/2015-19398.