With the Start of Benefits FEHB Open Season, Employees Need to Make Decisions About Their Insurance Benefits - Part I
Choosing an FEHB Program Health Plan for Plan Year 2024
Don’t miss our Special FEHB Open Season Webinar on November 28th
Where Do Employees and Retirees Get Information about FEHBP Program Health Plans and Premium Rates?
Effective Dates of FEHB Program Enrollment for Employees and Retirees
The effective date of an employee’s FEHB program enrollment change made during the open season is the first day of the 2024 leave year. The 2024 leave year at most federal agencies begins on Sunday, Jan. 14, 2024. Those employees enrolled in the FEHBP program during leave year 2023 (Jan. 1,2023 through Jan. 13, 2024) will continue to be insured under their health plans through Jan. 13,2024.
However, the Jan. 14,2024 effective starting date of FEHB program insurance assumes an employee will be in pay status during pay period 27 of leave year 2023. Pay period 27 at most federal agencies will occur from Dec. 30,2023 through Jan. 13, 2024.
If an employee is not in pay status during pay period 27 of leave year 2023 and returns to pay status effective Jan. 14,2024, then the effective date of enrollment for changes or new enrollment made during open season will be Jan. 28, 2024.
For retirees who made changes to the FEHB program enrollment during the open season, the changes will become effective Jan. 1,2024.
Edward A. Zurndorfer is a CERTIFIED FINANCIAL PLANNER™ professional, Chartered Life Underwriter, Chartered Financial Consultant, Chartered Federal Employee Benefits Consultant, Certified Employees Benefits Specialist and IRS Enrolled Agent in Silver Spring, MD. Tax planning, Federal employee benefits, retirement and insurance consulting services offered through EZ Accounting and Financial Services, and EZ Federal Benefits Seminars, located at 833 Bromley Street - Suite A, Silver Spring, MD 20902-3019 and telephone number 301-681-1652. Raymond James is not affiliated with and does not endorse the opinions or services of Edward A. Zurndorfer or EZ Accounting and Financial Services. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.