Page 58 - The Informed Fed--Hearn (edited 10.29.20)
P. 58

CHAPTER SIX


                   ____________________________________________________

                            All About Your Health


                                        Benefits


                   ____________________________________________________



                   Many federal employees choose their health plan by throwing a dart
               at the wall and hoping that it lands on the right spot. This is not the
               approach I would recommend. During open season, federal employees
               have the opportunity to review their health benefit options. Although
               benefits  change  within  the  plans  and  premiums  continue  to  increase
               annually, many federal employees leave their health insurance choices to
               chance  and  never  look  at  a  plan  other  than  the  one  they  have.  The
               reasons can vary. Maybe they are content with the cur-rent plan and they
               simply  do  not  want  to  expend  the  energy  or  time  looking  at  other
               choices. This chapter is focused  on the  process of comparing health
               plans and breaking them down so you can compare and understand the
               variety of plan choices.
                   The following are standard rules that apply to all plans:
                   •  During  open  season,  which  is  usually  the  second  Monday  in
                       November through the second Monday in December, federal
                       employees  and  retirees  may  enroll  in,  change  or  cancel  their
                       existing health plan. They can also choose to enroll in, change or
                       cancel  their  dental  and  vision  coverage.  And  in  order  to
                       participate in the flexible savings account for the following year,


                                                   57
   53   54   55   56   57   58   59   60   61   62   63