As a Federal Employee, you make plenty of decisions throughout the workday. When Open Season arrives, keeping the benefits you already have can feel like the easiest choice. You know the plan, what your pay for coverage, and you have one less decision to make.
Last year’s selection may still be the right choice. But your needs, plan benefits and costs can change. Taking a few minutes to review your coverage can help you decide whether to renew or explore other options.
Start with your household. Major life events such as marriage, divorce, welcoming a new child, moving or approaching retirement can affect your benefits needs. Smaller changes matter, too.
Maybe your child is likely to need braces. You are planning dental work you have been putting off. Your eyeglass prescription has changed, or you are considering switching to contact lenses.
Think about what you used this year, what you paid out of pocket and what dental or vision expenses you can reasonably anticipate. That gives you a practical starting point for evaluating coverage for the year ahead.
Even if your needs have stayed the same, your plan may not have.
Review the coming year’s premiums, covered services, provider networks and benefit limits. For dental coverage, look at benefits for preventive care, major procedures and orthodontia, along with annual maximums. For vision coverage, check benefits for eye exams, frames, lenses and contacts.
And confirm that the providers you expect to use participate in the plan you are considering.
Federal Employees may also have dental and vision options beyond FEDVIP. Open Season is an opportunity to compare available coverage and determine what best fits your needs.
The lowest premium is not necessarily the lowest overall cost.
Deductibles, copayments, coinsurance and coverage limits can all affect what you ultimately pay. If your child may need braces, for example, differences in orthodontic coverage or lifetime maximums could matter more than a small difference in monthly premium.
Compare what you will pay for the plan with the benefits you expect to use. The goal is to find the coverage that provides the right value for your household, not simply the lowest premium.
Your review may lead you right back to the coverage you already have. That is still a worthwhile outcome. You are renewing because you have determined it still works for you, not simply because it was last year’s choice.
At GEBA, we help Federal Employees and their families explore dental and vision insurance options and compare coverage, costs and benefits so they can make informed decisions during Open Season.
This Open Season, give your benefits the same attention you give other important household financial decisions.
How Can We Serve You Today? Our Knowledgeable Member Services Staff Can Help!
