Everything You Need To Know About Open Season (2021)

Everything You Need To Know About Open Season 2021

Open season for federal employees runs November 9, 2020 – December 14, 2020.

During this time, you can enroll, makes changes or cancel any existing enrollments in the following benefit categories:

•                Health (FEHB)
•                Dental/Vision (FEDVIP)
•                Flexible Spending (FSAFEDS)

Let’s start with your health insurance benefits…

Health (FEHB)

What’s changing for FEHB?

According to OPM, at a high level, premium rates for enrollees will increase by 4.9% across the board, and for non-Postal employees and retirees the increase will be 3.6%.

What if I don’t make any changes?

If you don’t make any changes during Open Season, your current coverages will continue and stay the same. The new coverages will start January 1, 2021 and you’ll see them reflected in your first pay period.

Where can I find more information about the plans?

The Office of Personnel Management has issued all program plan information online to help with the decision making process.

You can see all available plans, by state, and changes for the upcoming year here.

OPM has also released a Plan Comparison Tool to help compare plans based on your location and unique situation.

Once you’ve made a decision, you can use the Health Benefits Election Form (SF 2809) to make changes.

 Dental/Vision (FEDVIP)

What’s changing?

According to OPM, the premium amounts for 2021 are relatively flat compared to 2020. You can view the Carrier changes on the Benefeds website for individual plans. This is also where you will make any adjustments.

What if I don’t make any changes?

If you don’t make any changes during Open Season, your current coverages will continue and stay the same. The new coverages will start January 1, 2021 and you’ll see them reflected in your first pay period.

Where can I find more information about the plans?

Benefeds has a plan comparison tool here.

Flexible Spending (FSAFEDS)

What’s is FSAFEDS?

This is a flexible spending account, or pre-tax benefit that can be used to pay for eligible medical, dental and vision care expenses not covered by your current plans. These pre-tax dollars can be used to pay for out-of-pocket expenses. By participating, you can lower your taxable income.

There are 3 types of accounts to choose from:

DCFSA or Dependent care account (Max: $2,750)

HCFSA -or Health care account (Max: $5,000)

LEX HCFSA or Limited expense health care account (Max: $2,750)

What if I don’t make any changes?

If you have an FSAFEDS account currently and don’t do anything, it WILL NOT continue. You have to re-enroll each year.

Where can I find more information about the plans?

Here’s an overview of each plan, including contribution limits, covered expenses and additional information.  FSAFEDS Overview

Additional information can be found on the FSAFEDS website. This is also where you’ll enroll.

If you have questions about any of these benefits, or the process for Open Enrollment, our specialists at GPIS are always here to help.