2016 FEGLI Life Insurance Open Season

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Presentation transcript:

2016 FEGLI Life Insurance Open Season Introductory Guidance – February 2016 11/7/2018

FEGLI Life Insurance Open Season Overview Federal Employees’ Group Life Insurance Program (FEGLI) From Sept 1, 2016 through Sept 30, 2016 FEGLI-eligible employees can elect or increase any coverage FEGLI offers, including Option C (Family Coverage) No medical exam and no health questions 11/7/2018

FEGLI Life Insurance Open Season Coverage Effective Date One year delayed effective date First day of the first full pay period on or after October 1, 2017 Oct 1, 2017 for most biweekly employees Oct 14, 2017 for Postal employees Mitigates the risk of adverse selection No premiums due until coverage is effective Must retire after Oct 2022 to keep coverage 11/7/2018

FEGLI Life Insurance Open Season Election Method No special Open Season election form Employees will use SF 2817 or its electronic equivalent In Box #6, input Event Code 6 for an Open Season election Return a copy of the election to the employee as proof of receipt Agency will hold election until October 2017 11/7/2018

FEGLI Life Insurance Open Season No Mandatory Action No affirmative election required If employee does nothing during the FEGLI Open Season, employee will keep the same FEGLI enrollment he/she has now 11/7/2018

FEGLI Life Insurance Open Season Additional Guidance More Open Season BALs on the way Answers to frequently asked questions Sample emails Web resources Data reporting Subscribe to BenefitsInfo listserv by going to listserv.opm.gov and clicking on “Email Lists” 11/7/2018

FEGLI Life Insurance Open Season General FEGLI Guidance Resources at www.opm.gov/life Life Insurance Overview flyer Your FEGLI Life Insurance videos Employee version Annuitant and retiring employee version Schedule a screening for your employees! FEGLI Handbook All FEGLI BALs and Open Season materials 11/7/2018