Health Insurance premiums for employees covered under the Federal Employees Health Benefits (FEHB) Program will increase an overall average of 3.2 percent in 2015, the Office of Personnel Management (OPM) announced this week. The 2015 increase is lower than the 3.7 percent increase in 2014 and the 3.4 percent rise in 2013.
In releasing the new rates, OPM said that the 2015 increase “represents the fourth consecutive year that FEHB rate increases have been below 4 percent.”
The FEHB program covers 8.2 million people who can choose from among more than 250 health plans. FEHB plans cover about 85 percent of all federal employees and 90 percent of federal retirees. According to OPM, FEHB is the largest employer-sponsored health benefits program in the U.S.
While premiums vary with each plan, enrollee’s average bi-weekly payments next year will increase by $2.93 for self-only and by $6.89 for family plans. Premiums for specific plans are available on the OPM Website.
OPM also announced that the average 2015 premiums for the Federal Employees Dental and Vision Insurance Program (FEDVIP) will increase 1.7 percent for dental coverage and will rise by 1.5 percent for vision coverage.
The Open Season for health, dental and vision, and flexible spending accounts will start on November 10, 2014 and end on December 8, 2013. Open season allows federal employees and retirees to make changes to their plans and eligible employees to enroll in the plan of their choice.