Key Takeaways:

1. Understanding FEGLI enrollment periods and eligibility is essential for securing life insurance coverage.
2. Different enrollment opportunities, including initial employment, open seasons, and special circumstances, allow federal employees to adjust their coverage to meet changing needs.

FEGLI Enrollment Periods: When and How to Enroll

The Federal Employees Group Life Insurance (FEGLI) program is an essential benefit for federal employees, providing valuable life insurance coverage to protect their families and financial interests. Enrolling in FEGLI can be a straightforward process if you understand the key enrollment periods and the steps involved. This article covers when and how to enroll in FEGLI, including initial employment, open seasons, and special enrollment opportunities due to life events and other circumstances.

Understanding FEGLI Enrollment Periods: Key Dates and Deadlines

FEGLI enrollment is not restricted to a single period; instead, there are multiple opportunities for federal employees to enroll in or adjust their coverage.

Initial Enrollment Period

1. Automatic Enrollment: New federal employees are automatically enrolled in Basic FEGLI coverage unless they opt out. This ensures that all employees have at least a basic level of life insurance protection from the start of their federal service.
2. 60-Day Window: During the first 60 days of employment, employees can elect Optional FEGLI coverage (Option A, Option B, and Option C). This period is critical for deciding on additional coverage to meet personal and family needs.

Open Season

1. FEGLI Open Seasons: Unlike other federal benefits programs, FEGLI does not have annual open seasons. Open seasons for FEGLI are infrequent and occur only when announced by the Office of Personnel Management (OPM).
2. Enrollment Opportunities: During an open season, employees can enroll in FEGLI for the first time, increase their existing coverage, or make other changes without providing medical evidence of insurability.

Qualifying Life Events

1. Life Events: Certain life events, such as marriage, divorce, the birth or adoption of a child, or the death of a family member, allow employees to enroll in or make changes to their FEGLI coverage outside of open seasons.
2. 60-Day Window: Similar to the initial enrollment period, employees have a 60-day window from the date of the qualifying life event to make changes to their FEGLI coverage.

Late Enrollment

1. Medical Underwriting: Employees who miss the initial enrollment period or open season may still be able to enroll in FEGLI by undergoing medical underwriting. This process involves providing medical evidence of insurability.
2. Approval Process: The insurance provider, MetLife, will review the medical evidence and determine if the employee qualifies for the desired coverage. Approval is not guaranteed and depends on the individual’s health status.

Steps to Enroll in FEGLI During Initial Employment

Enrolling in FEGLI during initial employment is a straightforward process. Here are the steps you need to follow:

Automatic Enrollment in Basic Coverage

1. Automatic Coverage: New federal employees are automatically enrolled in Basic FEGLI coverage upon starting their federal service. This basic coverage is equal to the employee’s annual basic pay rounded up to the next $1,000, plus an additional $2,000.
2. Opting Out: If you do not want Basic coverage, you must submit a waiver form (SF 2817) to your human resources office within the first 60 days of employment.

Electing Optional Coverage

1. Review Options: Review the available Optional FEGLI coverage options: Option A (Standard Optional Insurance), Option B (Additional Optional Insurance), and Option C (Family Optional Insurance).
2. Submit Enrollment Form: Complete the FEGLI enrollment form (SF 2817) to elect Optional coverage. Submit the form to your human resources office within the 60-day enrollment window.
3. Confirmation: Your human resources office will process the enrollment and confirm your coverage. Ensure you receive and review the confirmation to verify your elections.

Understanding Premiums

1. Premium Deductions: FEGLI premiums are deducted from your biweekly paycheck. Basic coverage premiums are partially subsidized by the federal government, while Optional coverage premiums are fully paid by the employee.
2. Age-Based Rates: Premiums for Optional coverage increase with age, so it is important to review the cost implications when selecting your coverage levels.

Making Changes to Your FEGLI Coverage During Open Seasons

FEGLI open seasons provide a rare opportunity to make changes to your life insurance coverage without undergoing medical underwriting. Here’s how to take advantage of open seasons:

Monitoring Announcements

1. OPM Announcements: Keep an eye on announcements from the Office of Personnel Management (OPM) regarding FEGLI open seasons. These announcements will provide details on the dates and guidelines for the open season.
2. Agency Communications: Your agency’s human resources office will also communicate information about open seasons and the steps you need to take to enroll or make changes.

Preparing for Open Season

1. Evaluate Needs: Assess your current life insurance coverage and determine if it meets your current needs. Consider any changes in your financial responsibilities, family situation, and future plans.
2. Review Options: Familiarize yourself with the available FEGLI coverage options and the associated premiums. Use the FEGLI calculator on the OPM website to estimate your costs and coverage levels.

Enrolling or Making Changes

1. Complete Enrollment Form: During the open season, complete the FEGLI enrollment form (SF 2817) to enroll in Basic or Optional coverage, increase your existing coverage, or make other changes.
2. Submit Form: Submit the completed form to your human resources office within the open season period. Ensure you follow any specific instructions provided by your agency.

Confirmation and Effective Date

1. Confirmation: Your human resources office will process your enrollment or changes and provide confirmation of your updated coverage.
2. Effective Date: Changes made during an open season typically become effective on the first day of the first pay period following the end of the open season. Verify the effective date with your human resources office.

Special Enrollment Opportunities: Life Events and Other Circumstances

Certain life events and special circumstances allow for FEGLI enrollment or changes outside of open seasons. Here’s how to navigate these opportunities:

Qualifying Life Events

1. Identifying Life Events: Recognize qualifying life events that allow for FEGLI enrollment or changes, such as marriage, divorce, birth or adoption of a child, and death of a family member.
2. Documentation: Provide documentation of the life event, such as a marriage certificate, divorce decree, birth certificate, or death certificate, to your human resources office.

Enrollment and Changes

1. Complete Enrollment Form: Complete the FEGLI enrollment form (SF 2817) to enroll in or make changes to your coverage based on the qualifying life event.
2. Submit Form: Submit the completed form and supporting documentation to your human resources office within 60 days of the qualifying life event.

Confirmation and Effective Date

1. Confirmation: Your human resources office will process your enrollment or changes and provide confirmation of your updated coverage.
2. Effective Date: Changes due to qualifying life events are typically effective at the beginning of the pay period following the approval of the change. Verify the effective date with your human resources office.

Late Enrollment with Medical Underwriting

1. Request Enrollment: If you miss the initial enrollment period or an open season, you can still request FEGLI coverage by undergoing medical underwriting.
2. Complete Request Form: Complete the FEGLI life insurance election form (SF 2822) and undergo a medical exam. Submit the form and medical information to MetLife for review.
3. Approval Process: MetLife will review your medical information and determine if you qualify for the desired coverage. Approval depends on your health status and is not guaranteed.

Conclusion

Understanding the various FEGLI enrollment periods and opportunities is crucial for federal employees to secure and maintain appropriate life insurance coverage. Whether enrolling during initial employment, taking advantage of rare open seasons, or making changes due to qualifying life events, staying informed and proactive can ensure you have the coverage needed to protect your loved ones. By following the outlined steps and guidelines, you can navigate the FEGLI enrollment process with confidence and peace of mind.

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M. Dutton and Associates is a full-service financial firm. We have been in business for over 30 years serving our community. Through comprehensive objective driven planning, we provide you with the research, analysis, and available options needed to guide you in implementing a sound plan for your retirement. We are committed to helping you achieve your goals. Visit us at MarvinDutton.com . Tel. 212-951-7376: email: [email protected].