Return to Pointer View home page June 18, 2004

FEGLI open season scheduled for this September

Compiled by Irene Brown
Editor  

Office of Personnel Management Director Kay Coles James announced May 25 that they would hold the first open season for the Federal Employees’ Group Life Insurance Program since 1999. OPM will hold the FEGLI 2004 Open Season September 1 to 30.

“The Federal Employees’ Group Life Insurance Program is just one of the federal benefits that employees can use to plan  for -- and fulfill -- their essential responsibility to their families,” said James in an OPM release. “This open season will give federal employees the opportunity to make any adjustments they need to better plan for the future.”

The FEGLI program consists of basic life insurance coverage and three choices that include coverage for up to five times an employee’s base salary plus coverage for family members. Usually, a new federal employee is automatically covered by basic life insurance. The types and amounts of coverage available are not changing.

During the open season, federal and postal employees in eligible positions will be able to enroll, ncrease or change current coverage without having a physical or answering any questions about their health. However, an OPM memo sent to civilian personnel agencies June 3 stated they would also impose a delayed effective date of September 2005.

That means any changes employees make will not take effect for one year. The delayed date system was used in 1999, for the last FEGLI open season.

“The reason for the delay is to prevent high numbers of immediate claims,” OPM officials said. “Such claims could increase the program’s costs.”

OPM will set up a special FEGLI 2004 Web site before the open season begins. The site will contain an election form and more information about the program. OPM officials said the election form to be used in the open season, FE-2004, is not yet ready.

Editor’s note: Some information in this article comes from an OPM news release dated May 25.