Page 59 - The Informed Fed--Hearn Wealth Management

employees must state how much they want to contribute for the
year.

All federal health plans are required to have a no pre-existing
condition clause. This allows federal employees to move from

one plan to another during open season each year without being
concerned about any existing health conditions. Each plan must

take your enrollment no matter what your health condition. This
continues even when you are retired.
Each plan also is required to have a maximum out-of-pocket

limit for the year. If you reach that limit, you will not be required
to pay any further expenses, co-pays and deductibles due to this

limit. The amount of the out-of-pocket limit varies from plan to
plan, so you will want to be sure you understand the maximum
amount you would have to pay out of your own pocket for the

plans you are considering.
Here are some standard definitions you may want to become familiar
with:

FEHB Federal Employee Health Benefits
FEDVIP Federal Employee Dental and Vision Insurance Plan
PCP Primary Care Physician

FSA Flexible Savings Account
HSA Health Saving Account

HMO Health Maintenance Organization
PPO Preferred Provider Organization
FFS Fee-For-Service Plan

HDHP High Deductible Health Plan
IOU

HMO--Health Maintenance Organization. This is coverage

where you choose a primary care physician from a list of member

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