Fegli Life Insurance: When Is The Next Open Season?

The Federal Employees' Group Life Insurance (FEGLI) program is the largest group life insurance program in the world, covering over 4 million federal employees, retirees, and their families. FEGLI life insurance open seasons are rare and currently, none are scheduled. The last FEGLI open season was held from September 1 to September 30, 2016, the first since 2004. During this period, eligible employees could elect any coverage offered by FEGLI, including Option C coverage for their families. Employees who were in their first 12 months of workers' compensation were also eligible but had to meet pay and duty requirements.

The next FEGLI open season was in September 2016

The Federal Employees' Group Life Insurance (FEGLI) program held its last Open Season in September 2016. This was the first FEGLI Open Season since 2004, and it lasted from September 1 to September 30. During this period, eligible Federal employees could elect any coverage that FEGLI offered, including Option C coverage for their eligible family members. This was a rare opportunity, as FEGLI Open Seasons are infrequent.

FEGLI is the largest group life insurance program in the world, covering over 4 million Federal employees, retirees, and their family members. Most new Federal employees are automatically covered by Basic life insurance, with premiums deducted from their paychecks unless they waive this coverage. In addition to Basic, there are three forms of Optional insurance that employees can elect: Option A, Option B, and Option C.

During the September 2016 Open Season, eligible employees who weren't already enrolled in FEGLI could elect Basic and any or all of the optional coverages. Those who were already enrolled could increase their coverage up to the maximum available or change their coverage. No physical exam or health questions were required to make these changes.

It's important to note that annuitants are not eligible to make FEGLI Open Season elections. However, they can participate in the Open Season if they are reemployed in a position that conveys FEGLI eligibility. Annuitants can also cancel or reduce their FEGLI coverage at any time, but they cannot elect or increase their coverage, even during an Open Season.

Outside of an Open Season, eligible employees can still enroll or increase their FEGLI coverage by taking a physical exam or experiencing a Qualifying Life Event, such as marriage, divorce, the death of a spouse, or the acquisition of an eligible child.

Employees can elect any coverage offered by FEGLI

There is no information available on when the next FEGLI life insurance open season will be, as these open seasons are infrequent and none are currently scheduled. However, eligible employees can still enroll or increase their coverage outside of an open season by taking a physical exam or experiencing a Qualifying Life Event.

Employees can elect any coverage offered by the Federal Employees' Group Life Insurance (FEGLI) program, which includes Basic insurance and Optional insurance. Basic insurance coverage uses a composite premium structure, meaning that the premium rate is the same for each enrollee in the group policy, regardless of age or health status. This level premium feature ensures that the enrollee premium rates remain equal throughout the coverage period, making the cost more predictable. Younger employees benefit from an additional Basic insurance provision called the Extra Benefit, which doubles the amount of Basic insurance payable at no extra cost for those aged 35 or younger. From the age of 36 onwards, the Extra Benefit decreases by 10% annually until it is phased out by the age of 45.

The cost of FEGLI coverage is relatively competitive with private term insurance due to the government's contribution to the Basic premium. Employees under the age of 65 effectively subsidize the cost of coverage for older enrollees. FEGLI coverage can also be continued into retirement, with the post-65 benefit included in the Basic level premium. This means that retirees can continue some coverage at no extra cost after the age of 65.

It is important to note that eligible employees can also reduce or cancel their FEGLI life insurance at any time, without having to wait for an open season. This can be done by submitting the appropriate form (SF 2817) to their human resources office, indicating the desired changes or the specific coverage they wish to retain.

No medical exam or health questions are required

There is currently no open season for FEGLI life insurance scheduled. However, eligible employees can still enroll or increase their coverage without waiting for an open season by choosing one of the following options:

No medical exam or health questions required

Eligible employees can enroll or increase their coverage without a medical exam or health questions by experiencing a Qualifying Life Event. Qualifying Life Events include marriage, divorce, the death of a spouse, or the acquisition of an eligible child. After experiencing one of these life events, you have 60 days to submit an SF 2817 form to your human resources office to enroll or increase your coverage. This option allows you to enroll in Basic, Option A, up to five multiples of Option B, and/or up to five multiples of Option C.

It is important to note that FEGLI life insurance open seasons are infrequent, and as of now, none are scheduled. Therefore, if you are considering enrolling or increasing your coverage, taking advantage of the Qualifying Life Event option without the need for a medical exam or health questions is a viable path to explore.

Elections have a one-year delayed effective date

The Federal Employees' Group Life Insurance (FEGLI) program held an open season from September 1 to September 30, 2016. This was the first FEGLI Open Season since 2004. During this period, eligible employees could elect any coverage that FEGLI offers, including Option C coverage for their family members. Employees in their first 12 months of workers' compensation were also eligible but had to meet pay and duty requirements.

Now, here are some paragraphs focused on the topic of "Elections have a one-year delayed effective date":

The elections made during the 2016 FEGLI Open Season had a one-year delayed effective date. This means that the coverage elected during this period would only come into effect on the first day of the first full pay period on or after October 1, 2017. This delay is an important consideration for individuals planning their insurance coverage and ensuring they have the necessary protection in place. It also highlights the importance of reviewing and updating insurance policies regularly, as life circumstances can change significantly in a year.

The one-year delay provides a window of opportunity for individuals to make any necessary adjustments to their coverage. For example, if an individual elected for basic coverage during the Open Season but subsequently experienced a life event, such as marriage or the birth of a child, they could increase their coverage accordingly before the policy came into effect. This flexibility allows employees to tailor their insurance plans to their evolving needs and circumstances.

It is worth noting that while FEGLI Open Seasons are infrequent, eligible employees can still make changes to their coverage outside of these periods. As mentioned earlier, life-changing events, such as marriage, divorce, the death of a spouse, or the acquisition of an eligible child, can trigger the opportunity to enroll or increase coverage. In such cases, individuals must submit the relevant forms to their human resources office within 60 days of the life event.

The one-year delay in the effective date of elections made during the FEGLI Open Season is a unique feature of the program. It provides employees with the flexibility to make informed decisions about their insurance coverage and ensure it aligns with their long-term needs and life circumstances. By understanding this delay, individuals can effectively plan and make any necessary adjustments to their coverage before the policy comes into force.

Annuitants cannot elect or increase coverage, even during open season

The Federal Employees' Group Life Insurance (FEGLI) Open Season is for eligible employees and qualifying compensators only. Annuitants are not eligible to make FEGLI Open Season elections. By law, annuitants cannot elect or increase their FEGLI life insurance coverage, even during an Open Season. Annuitants who wish to increase their coverage must do so outside of an Open Season by taking a physical exam or experiencing a Qualifying Life Event, such as marriage, divorce, the death of a spouse, or the acquisition of an eligible child.

During an Open Season, annuitants can, however, cancel or reduce their FEGLI coverage. To do so, they must submit an SF 2817 form to their agency's human resources office, indicating that it is an Open Season election. It is important to note that annuitants must follow the regular rules for continuing FEGLI into retirement. This includes the requirement that for any types or multiples of coverage they wish to bring into retirement, they must have had that coverage throughout their last five years of Federal service or their entire period of service if they retire with less than five years.

While there is no set schedule for FEGLI life insurance open seasons, they are infrequent. Eligible employees can enroll or increase their coverage outside of an Open Season by taking a physical exam or experiencing a Qualifying Life Event. A Qualifying Life Event includes marriage, divorce, the death of a spouse, or the acquisition of an eligible child. Within 60 days of the life event, individuals must submit an SF 2817 form to their human resources office.

It is worth noting that if an individual likes their current FEGLI coverage, they do not need to take any action during the Open Season. If no changes are made during the FEGLI Open Season, the existing election will be maintained.

Frequently asked questions