Q – Can I continue to carry my FEHB when I retire?
Q – What will I pay for the FEHB after retirement?
Q – Can I change my health insurance plan after retirement?
Q – How long can I carry FEHB?
Q – Are there any other options that I should know about?
Q – What is a High Deductible Health Plan (HDHP) with an HSA?
Q – Who can participate in the HSA?
Q – When can I enroll in the HDHP?
Q – Can I continue to participate in a HDHP in retirement?
Q – Where do I get more information on the HDHP with HSAs?
Q – What is a Health Care Flexible Spending Account (HCFSA)?
Q – What is a Limited Expense Health Care Flexible Spending Account (LEXHCFSA)?
Q – What is a Dependent Care Flexible Spending Account (DCFSA)?
Q – Who can participate in an FSA?
Q – When can I enroll in the HCFSA and/or the DCFSA?
Q – Can I fund the FSA in retirement?
Q – How much can I contribute?
Q – What is the advantage of an FSA?
Q – What happens to the money if I don’t use it all?
Q – Where do I get additional information on FSA’s?
Q – When can I enroll in the Federal Employees Dental and Vision Insurance Program (FEDVIP)?
Q – Do I have to reenroll each year?
Q – Does the government pay part of the premium?
Q – Can I continue FEDVIP in retirement?
Q – Where do I get more information on FEDVIP?
Q – What is long term care (LTC) insurance?
Q – Why do I need LTC insurance?
Q – When can I enroll in the federal LTC program?
Q – Does the government pay part of the premium?
Q – Is the Federal LTC just for me?
Q – Where do I get more information on the federal LTC program?
Q – Can I continue to carry my FEHB when I retire?
A – You can continue to participate in FEHB for life if you meet the following three requirements:
• You retired on an immediate annuity (one that commences within 31 days of separation);
• You are insured on date of retirement; and
• You have participated in FEHB for the 5 years of service immediately preceding retirement or since the first opportunity to have enrolled.
Q – What will I pay for the FEHB after retirement?
A – You are required to pay the same premium for the FEHB plan that you wish to carry as if you were still employed. However, the premiums are withheld on a monthly basis and they are withheld in after-tax dollars.
(EXCEPTION: If you are retiring as a public safety officer The Pension Protection Act provided a $3,000 tax credit of your FEHB premiums.)
Q – Can I change my health insurance plan after retirement?
A – Yes, you will be able to exercise open season options in retirement just as you did as an employee. There are also special circumstance changes, for example if you are in a regional plan and relocate out of the plan’s service area, you can change plans outside of the open season.
Q – How long can I carry FEHB?
A – You can continue FEHB coverage for life (and if you provided a survivor’s annuity for your spouse’s lifetime). You can change plans in retirement just as you do as an employee.
Q – If I work after I retire and my employer provides health insurance, can I drop FEHB and reenroll some time later?
A – You can drop your FEHB; however you can NOT reenroll after retirement. The probability of being allowed to continue under the new employer’s plan is not good in most cases. You can change your health plan during an open season and later reelect any other plan.
Q – Are there any other options that I should know about?
A – Yes, in addition to the standard deductible plans, there are High Deductible Health Plans with Health Savings Plans, Health Care Flexible Spending Accounts, Dependent Care Flexible Spending Accounts, Federal Employees Dental and Vision Insurance Program, and Federal Long Term Care Insurance.
Q – What is a High Deductible Health Plan (HDHP) with a Health Savings Account?
A – A High Deductible Health Plan with a Health Savings Account provides insurance coverage and a tax-advantaged way to help save for future medical expenses. HDHPs have a minimum annual deductible of $1,600 for self only coverage and $3,200 for self and family coverage. Under the Federal HDHP a portion of the pretax premium is placed into an account in your name.
Q – Who can participate in an HSA?
A – In order to participate in an HSA, you must be enrolled in a HDHP, have no other insurance coverage (other than disability, dental, vision and long term care insurance policies) and not be claimed as a dependent on someone else’s tax return. You can NOT participate in an HSA if:
You are funding a Health Care Flexible Spending Account
You are covered by a spouse’s Health Care FSA
You are covered by another non-high deductible health insurance plan
You are covered by Tricare
You are covered by Medicare
You are in receipt of VA benefits within the last three months.
Q – When can I enroll in the HDHP?
A – You can only enroll in the HDHP during an open season or another qualifying Life Change Event.
Q – Can I continue to participate in an HDHP in retirement?
A – Yes, however, at age 65 the HSA would convert to a Health Reimbursement Arrangement.
Q – Where do I get more information on the HDHP with HSAs?
A – The HDHP is part of the FEHB program therefore information is available at
WWW. OPM.GOV
Q – What is a Health Care Flexible Spending Account (HCFSA)?
A – A Health Care Flexible Spending Account is an account that you fund with pretax dollars. You then incur qualified medical expenses that are not covered or reimbursed by an FEHB plan or any other type of insurance. Insurance Premiums, including premiums for long term care insurance, are not qualified medical expenses. You may elect to contribute a pretax amount of anywhere between $100 to a maximum annual amount of $3,200. Money contributed is pretax for Federal, State, Social Security and Medicare Taxes.
Q – What is a Limited Expense Health Care Flexible Spending Account (LEXHCFSA)?
A – A Limited Expense Health Care Flexible Spending Account is an FSA which only someone enrolled in a High Deductible Health Plan funding an HSA can fund. The Limited Expense concept means that the funds can only be used for vision or dental expenses, not medical copays and deductibles.
Q – What is a Dependent Care Flexible Spending Account (DCFSA)?
A – A Dependent Care Flexible Spending Account is a pretax account from which you are reimbursed for childcare or adult dependent care expenses that are necessary to allow you to work, look for work, or attend school full-time The minimum that can be contributed is $100 to a maximum of $5,000. Money contributed is pretax for Federal, State, Social Security and Medicare Taxes.
Q – Who can participate in an FSA?
A – All federal employees who work for the Executive Branch or adopting agencies may enroll in the FSA programs.
Q – When can I enroll in the HCFSA and/or the DCFSA program?
A– You enroll during the FEHB open season—mid November through mid December each year. Additionally you must positively enroll each year.
Q – Can I fund the FSA in retirement?
A – No, in fact if you have money in the FSA and retire, unless you have incurred qualified medical expenses before retirement, you would forfeit the money in your account.
Q – How much can I contribute?
A – You can contribute a minimum of $100 and a maximum of $3,200 for the HCFSA or LEXHCFSA and $5,000 for the DCFSA.
Q – What is the advantage of an FSA?
A – The advantage of an FSA is that you are funding it pretax. You then incur out of pocket qualified medical expenses which you pay with after tax dollars, and get reimbursed with the pretax money.
Q –What happens to the money if I don’t use it all?
A – You can carry over to 2025 $640 from 2024. You must enroll to participate in the HCFSA or LEXHCFSA for 2025 in order to use the carry over.
Q – What is the plan year?
A – The plan year is January 1, thru December 31.
Q – Where do I get additional information on the FSAs?
A – Information is available at wwww.login.gov
Q – When can I enroll in the Federal Employees Dental and Vision Insurance Program (FEDVIP)?
A – You can enroll in FEDVIP during the FEHB Open Season—Mid November to Mid December each year.
Q – Do I have to reenroll each year?
A – No, once you have enrolled the coverage is in effect until you change or cancel the coverage.
Q – Does the government pay part of the premium?
A – No, however the premiums are based on group coverage.
Q – Can I continue FEDVIP in retirement?
A – Yes, in fact you do not have to have the FEDVIP coverage at retirement you can enroll after retirement or drop the coverage and then reenroll during an open season.
Q – Where do I get more information on FEDVIP?
A – Information is available at WWW.BENEFEDS.COM
Q – What is long term care insurance?
A – Long term care insurance is insurance which covers the cost of care when there is little chance of improvement in the medical condition. Routinely it covers the cost of nursing home care, assisted living arrangements, and home health care assistance.
Q – Why do I need LTC insurance?
A – Neither your FEHB nor Medicare cover these costs. Therefore the costs must be paid from personal assets, Medicaid (a needs based program) or LTC insurance.
Q – When can I enroll in the federal LTC program?
A – At present, enrollments or increases in coverage are suspended until December 2024.
Q – Does the government pay part of the premium?
A – No, the government does not pay any part of the premium. But the premiums are likely lower than an individual plan because it is group coverage.
Q – Is the Federal LTC insurance just for me?
A – No as an employee, coverage is available to you, your spouse, your parents, in-laws and children age 18 and over. Each person must qualify and each person has their own policy.
Q – Where do I get more information on the federal LTC program?
A – Information is available at WWW.LTCFEDS.COM
