Q. When I accepted a buyout, I wasn’t eligible to retire because I was age 48 and only had 20 years of service. I’ll soon be age 60 and will apply for a deferred annuity. When I do that, will I be able to re-enroll in the FEHB program?
A. Unfortunately, no. Under current law, deferred annuitants aren’t eligible to re-enroll in the Federal Employees Health Benefits program.
Why would one choose a deferred annuity over an immediate annuity when accepting a buyout (presumably VERA / VSIP)?
You can’t “choose a deferred annuity.” A deferred annuitant is an employee who leaves the service before he or she has have the right combination of years and service to retire on an immediate annuity. Anyone who was offered a VERA would automatically meet the requirements to retire, whereas any employee who is offered a VSIP can accept it regardless of whether he or she is eligible to retire.