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Federal Employees Health Benefits Program (FEHB)
As a new employee, you have 60 days to enroll in a health plan
or not to enroll. However, it is to your advantage to make this
election soon in order to be covered in case of an accident or
illness. If you don’t make an election, you are considered
to have declined coverage.
http://www.opm.gov/insure/health/new_employees.asp#fehb
Federal Employees Dental and Vision Insurance Program (FEDVIP)
The new Federal Employees Dental and Vision Insurance Program (FEDVIP) is available to eligible
Federal and Postal employees, retirees, and their eligible family members on an enrollee-pay-all basis.
This new Program allows dental and vision insurance to be purchased on a group basis which means
competitive premiums and no pre-existing condition limitations. Premiums for enrolled Federal and Postal
employees will be withheld from salary on a pre-tax basis.
http://www.opm.gov/insure/DentalVision/index.asp
Flexible Spending Account (FSA)
A Flexible Spending Account (FSA) is a tax-favored program offered by employers that allows their employees
to pay for eligible out-of-pocket health care and dependent care expenses with pre-tax dollars. By using
pre-tax dollars to pay for eligible health care and dependent care expenses, an FSA gives you an immediate
discount on these expenses that equals the taxes you would otherwise pay on that money.
http://www.fsafeds.com/fsafeds/SummaryOfBenefits.asp#WhatIsFSA
Federal Employees’ Group Life Insurance Program (FEGLI)
FEGLI is the government’s life insurance coverage for eligible
employees. Through FEGLI, you have the opportunity to participate
in this group plan that offers reasonable rates and the convenience
of payment through payroll deductions. Starting your first day
of work, you are automatically covered by Basic Life Insurance
unless you waive this coverage. However, if you want one of the
other insurance options, you must sign up for it.
http://www.opm.gov/insure/health/new_employees.asp#fegli
Designations of Beneficiary
If you die while you are a Federal employee, FEGLI payments will
be made in a particular order set by law, as well as any unpaid
salary and your Thrift Savings Plan funds. There may also be lump
sum payments due from your retirement program. Standard rules
for each program determine who is eligible to receive these payments.
If you are satisfied with the order of payment under that program’s
rules, you do not have to take any action. But if you want these
funds to go to someone else, you need to file a Designation of
Beneficiary for that program.
http://www.opm.gov/insure/life/handbook/designt2.htm
- designation of beneficiary
Long Term
Care Insurance
If you’re newly employed in a position that conveys eligibility
for FEHB coverage, you can apply for long term care insurance,
even if you don’t enroll in the FEHB Program. If you apply
for long term care insurance coverage within 60 days of being
hired, you only have to answer a few questions about your health
using the abbreviated underwriting application. You can still
apply for the insurance after those 60 days, but then you would
have to use the full underwriting application, which contains
more questions about your health.
http://www.ltcfeds.com/
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