With several options available, from different plan types to various coverage levels, using the “Federal Employees Health Benefits Program” aka the FEHB Open Season as a strategic tool can significantly impact the healthcare experience and financial well-being of millions of Federal employees and their families.
Suppose you need help deciding what’s best for you. In that case, our team shares practical tips for evaluating your current coverage, exploring alternative plans that better suit your needs, and making informed decisions that align with your circumstances.
Take control of your healthcare journey with confidence with these tips from The Federal Educators.
When is the FEHB Open Season?
The FEHB Open Season typically runs from the first Monday in November through the second Monday in December each year. During this period, federal employees and retirees can enroll or make changes to their health insurance plans.
It’s a crucial time for individuals to review their current coverage, consider any life changes that may impact their healthcare needs, and explore new plan options.
What to Change During Open Season: A Checklist
During the FEHB open season, it’s crucial to reevaluate your healthcare needs and make any necessary changes to your plan. Here’s a checklist to follow:
#1. Consider Coverage
First, consider any changes in your health or lifestyle that may require different coverage. For example, if you’ve been diagnosed with a chronic condition or are planning a major medical procedure, it may be wise to switch to a plan with better coverage for these specific needs.
#2. Compare Cost & Coverage
Second, take a close look at the cost and coverage of your current plan compared to other options available. Don’t assume that sticking with your existing plan is the best choice—there might be better options that offer more comprehensive coverage at a similar or even lower cost.
#3. Investigate New Plans
Don’t forget to investigate any new plans that have been introduced during the open season period. These newly available plans may offer innovative benefits or competitive pricing that could improve your overall healthcare experience.
#4. Check Providers & Prescriptions
Remember to carefully examine the check providers and prescriptions offered by different plans. With medical needs varying from person to person, verifying whether your current healthcare providers are in-network is crucial in making an informed decision.
Understanding which prescriptions are covered and at what cost can significantly impact your overall healthcare expenses. Many people may not realize that certain plans may offer better coverage for specific medications, ultimately affecting their out-of-pocket costs.
Changes to Be Aware Of
It’s crucial to pay close attention to Section 2, “Changes for 2024.” By carefully reviewing this section, you can stay ahead of any changes in coverage, premiums, or deductible amounts that may affect you and your family.
Changes in 2024 include:
- MetLife dental and vision plans include complimentary identity and fraud protection
- Doula coverage has been added to SAMBA plans
- Family and marital counseling has been added to BCBS plans
- APWU is moving from CIGNA to UnitedHealthcare as its provider network.
- The catastrophic maximum for self-only enrollees under UnitedHealthcare Choice Plus Advanced is being doubled from $3,000 to $6,000, and for self-plus-one and self-and-family enrollees from $6,000 to $12,000.
There may be more changes that pertain to you and your family for 2024, so make sure to read Section 2!
Contact The Federal Educators
The FEHB Open Season provides an opportunity for federal employees and retirees to optimize their healthcare coverage according to their evolving needs. By carefully assessing personal circumstances, comparing costs and benefits, and exploring new plan offerings, individuals can ensure they have the most suitable and economical coverage for the coming year’s healthcare requirements.
Not sure where to start? Contact The Federal Educators today at (813) 755-7037 we will help you make the most of your Federal benefits!
