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2015 COLA Update

Federal retirees in the CSRS and FERS retirement systems may receive a COLA increase of 2% or more in 2015. Complete COLA information is available on this site. Active federal employee's pay may increase 3% in 2015 if administration's request is accepted by Congress.  

Retiree JOB Opportunities

Many job opportunities are available for federal retirees − and those planning to retire soon − to earn additional income in retirement. Our Jobs Board has updated listings targeted to federal retirees. Many companies seek out retired federal employees due to their government experience and contacts. You can also explore high paying opportunities for those that hold current Security Clearances.  

   

 

FEDVIP

 
 

Federal Employee's and Annuitant's Insurance Benefits

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This program offer three rate options, Self, Self + 1, and Self & Family. This rate structure will extend to the FEHB program in 2015 or 2016 and is long overdue and it benefits those empty nesters who previously had to pay high Family option premiums to cover the employee and a spouse. The monthly costs seem reasonable, maybe because I live in rating area #1 which offers the lowest premiums.

 

FEDVIP Menu

Federal Employees Dental and Vision Insurance Program

Look over your options closely and compare plans.

You must use BENEFEDS to enroll or change enrollment in a FEDVIP plan. BENEFEDS is a secure enrollment website (www.benefeds.com) sponsored by OPM. If you do not have access to a computer, call 1-877-888-FEDS (1-877-888-3337), TTY number 1-877-889-5680 to enroll or change your enrollment.

The U.S. Office of Personnel Management (OPM) awarded contracts to insurance carriers that will offer supplemental dental and vision benefits under the new Federal Employees Dental and Vision Insurance Program. OPM selected the following companies to provide these services:

 

Dental Vision
Aetna Life Insurance Company BlueCross BlueShield Association
Government Employees Health Association, Inc. (GEHA) United Health Care
MetLife Inc. Vision Service Plan (VSP)
United Concordia Companies, Inc.  
Group Health, Inc.  
Humana/Comp Benefits  
Triple-S Salud, Inc.  

 

Dental plans provide a comprehensive range of services, including but not limited to the following:

  • Class A (Basic) services, which include oral examinations, prophylaxis, diagnostic evaluations, sealants and x-rays.
  • Class B (Intermediate) services, which include restorative procedures such as fillings, prefabricated stainless steel crowns, periodontal scaling, tooth extractions, and denture adjustments.
  • Class C (Major) services, which include endodontic services such as root canals, periodontal services such as gingivectomy, major restorative services such as crowns, oral surgery, bridges and prosthodontic services such as complete dentures.
  • Class D (Orthodontic) services.

 

The new program becomes effective on December 31 and gives federal employees additional healthcare choices. Employees may enroll for dental benefits, vision benefits or both.

The program allows employees to use pre-tax dollars to pay for their vision and dental premiums. However, as specified by law, there is no federal government contribution.
The Federal Employees Dental and Vision Benefits Enhancement Act of 2004 was signed into law by President Bush on December 23, 2004. The Act requires OPM to establish arrangements under which supplemental dental and vision benefits will be made available to federal employees, retirees, and their dependents, and it gives OPM broad contracting authority to leverage the purchasing power of federal enrollees.

Dental rates for those living in the United States are determined based on where you live. This is called a rating area. To find your bi-weekly or monthly Dental premium, you must first find your rating area on the charts at the OPM web site. You can view 2013 dental rates for all areas online. The OPM site offers complete information on programs, prices and carriers. Rates for the dental program range from as little as $8.58 per month (rating area 1) under a standard plan for self only to as high as $141.68 per month (rating area 5) under a high plan for self and family.

Vision Rates are not based on where you live and the chart that follows is excerpted from the OPM web site. Retirees would pay a monthly rate that various anywhere from as little as 6.63 for the standard plan (self only) to as high as $37.74 for the High Option Plan (Self & Family).

If you have questions, contact OPM at fedvip@opm.gov or call them at (202)606-0745.
For questions regarding the Federal Employees Dental and Vision Insurance Program, please contact the customer service representatives at 1(866) 639-3917.

Retiree Perspective     

My wife and I elected Metlife Dental and  Blue Cross Blue Shield eye care. Metlife picks up our dental preventative care deductibles and pays a significant portion of other procedure costs. The eye care is also excellent, I am able to get annual checkups and a new pair of glasses once a year as needed and they pay 100% of the cost for standard frames and lenses for new prescriptions. My last pair of glasses cost me $90 because I wanted the best progressive bifocals they have. Prior to having this insurance I would often pay over $300 for each new pair of eyeglasses.

We are very satisfied with our coverage and the cost is very reasonable at just over $50 a month for Dental and $10 a month for eye care.

Dennis V. Damp, Retired FAA

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