FEHBP Enrollees Brace for Spike in Health Insurance Costs
The Office of Personnel Management (OPM) announced last week that premiums are rising an average 4.9 percent for Federal Employee Health Benefits Program enrollees in 2021. Because the 4.9 percent increase is an average, some will see even larger increases depending on the type of plan they choose. Nearly 53 percent of enrollees will see an increase in premiums of between 5 percent and 10 percent. OPM also reports that the employer’s share will increase 3 percent, for an overall average premium increase of 3.6 percent.
Calling this increase a financial setback for enrollees, National President Tony Reardon said that OPM should better leverage the size of the FEHBP to control costs for employees and retirees.
Open season for federal employees and retirees to re-enroll or change their health insurance for next year is scheduled from Nov. 9 to Dec. 14. During this time, NTEU members will once again have free, exclusive access to the Consumers’ Checkbook Online Guide to Health Plans for Federal Employees and Annuitants. Checkbook helps users pick the right health care plan by comparing costs, looking at quality ratings, and examining flexibility on issues like choice of doctors. Read more