Browsing: health insurance premium

Q. My husband has 28 years and I have 27 years under FERS as civilians with the Defense Department (Air Force). My husband has been carrying Federal Employees Health Benefits insurance for our family for the past nine years. If he decides to retire early or prior to me, will he have to select an annuity for me so I would have health insurance coverage if he was to pass? I wouldn’t want to have to continue to work and carry insurance for five years prior to retiring if this is the case. A. He wouldn’t have to elect a…

Q. My December federal retirement take-home pay was $1,609.11. My January federal retirement take-home pay was $1.645.66. My February federal retirement take-home pay was $1,511.67. My take-home pay was reduced by $133.99. In my 15 years of retirement pay, I have never seen this much taken for medical at once.  For the past few years, my take-home pay has continued to reduce. Inflation is not keeping up with medical costs. What’s going on? A. All plans in the Federal Employees Health Benefits program are experience-rated. This means that the premiums in the current year are based on an analysis of…

Q. Usually the checks federal retirees receive in February are lower than the January checks. This is usually due to increases in health insurance premiums. This year, the checks were larger. The January checks reflected the cost-of-living adjustment increase. What caused the February increase? A. Since annuity payments are retroactive, your February payment was for the month of January. You might check to see if the increase was due to a decrease in the premiums for your health benefits.

Q. I was released from the Postal Service involuntarily after about 6½ years. My steward informed me that my health benefit continues for one year after separation. Also, she told me that if I am reinstated, any back premiums will be repaid from any back pay I may receive or they will make up for them during this time by taking it from my paychecks. I was hired with a 10-point veterans preference (under 30 percent) compensation.  Is this correct? A. Unless your steward knows something that I don’t know, here’s what will happen: You’ll get a 31-day extension of…

Q. I am a postal employee. Approximately what percent more do federal employees pay for their part of health coverage than postal employees? Is this the same percentage my premiums will increase after I retire if I keep the same coverage I had while I was working? A. The premium rates for most federal employees are set by a formula where the maximum government contribution is set at 72 percent of the weighted average cost of all plans, not to exceed 75 percent of the cost of any specific plan. As a result of negotiation with its unions, the Postal…