Q. I’ll retire in December 2016 with 30 years at the U.S. Postal Service. I don’t want to keep my basic life insurance. If I cancel that, will my FEHB benefits also be canceled?
A. No, they won’t. These are two separate and independent benefits.
Basic life insurance vs. FEHB benefits
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I will be retiring soon, but I’m not sure what would be in my best interest to keep for life insurance. What do most people do? I am single. Thanks
I don’t know what most people do. However, based on what I’ve been told, single people who don’t have someone to whom they want to leave the proceeds of their insurance either cancel that coverage or at age 65 – when premium deductions end – allow it to decline to 25 percent of its face value.
I am 63 and retired from Tobyhanna army depot and have coverage with geisinger health health plan as part of my retirement package. I have Tricare standard being retired military how do I drop geisinger since I receive Tricare at no monthly cost.it makes no sense to pay for one that is close to 300dollars per month when I have Tricare that is a much lower deductible and i will have to come under medicare part b in the near future how do I go about this and is this the most sensible way to go about it I need advice if at all possible
To preserve your options, you’ll want to suspend you FEHB coverage, not cancel it. To do that, To do that. go to https://www.opm.gov/forms/pdf_fill/ri79-9.pdf, fill out the form, and send it to OPM.