Aug. 19, 2016 // WorkLife Wisdom: FEGLI Open Season!
For the first time in 12 years, the Federal Employees’ Group Life Insurance Program (FEGLI) is having an Open Season!
Open season starts on Thursday, Sept. 1, and ends on Friday, Sept. 30, 2016.
During the Open Season, FEGLI-eligible employees can enroll in FEGLI or increase coverage up to the maximum offered by the program. FEGLI-eligible employees can elect any coverage the program offers, including Option C coverage on the lives of your spouse and eligible dependent children under age 22. Starting on September 1, elections can be made through Employee Express (EEX) or by submitting a SF2817, Life Insurance Election form to the Benefits Operations Center.
As a reminder, enrolled employees can cancel coverage, reduce coverage, or change beneficiaries at any time – no need to wait until a FEGLI Open Season.
There is no medical exam required and there are no health questions with your FEGLI Open Season election.
There is a one year delayed effective date before your Open Season coverage becomes effective. Your new coverage will be effective the first day of the first full pay period that begins on or after Oct. 1, 2017, as long as you meet pay and duty status requirements. For most biweekly employees, this means your new coverage will be effective Oct. 1, 2017. You will not pay premiums for your new coverage until your new coverage is effective.
Thinking about retirement? For any FEGLI coverage you wish to bring into retirement, you must have that coverage for your last five years of Federal service, among other requirements. If you plan to retire before October 2022 (five years after the soonest your Open Season coverage could come into effect), consider this when making your Open Season election.
Visit opm.gov/FEGLIopenseason for more information. You may also contact the FAA Benefits Operation Center by phone at 1-855-322-2363 between the hours of 7 a.m. to 5 p.m. Monday through Friday or by email at [email protected].