The Blue Cross and Blue Shield Service Benefit Plan, also known as the Federal Employee Program® (FEP®), has been part of the Federal Employees Health Benefits (FEHB) Program since its inception in 1960.
What is federal health insurance called?
Federal Employees Health Benefits (FEHB) Program (FEDVIP)
Do I need to enroll in FEHB each year?
Once you enroll in a health insurance plan,
your enrollment automatically continues each year, as long as you remain eligible for the program
. You do not have to reenroll each year.
Who qualifies as a federal employee?
Politicians and legislative staff, civil servants and members of the armed forces
are all considered federal employees.
How good are federal health benefits?
About 70% of those who took OPM's 2019 benefits survey said the ability to receive insurance through the Federal Employee Health Benefits Program influenced their decision to a “great or moderate” extent to take a job in government, while 80% said the program influenced their decision to keep their jobs.
What type of insurance is BCBS Federal?
For 60 years, the Blue Cross and Blue Shield Service Benefit Plan, also known as the Federal Employee Program—or simply FEP—has provided
health insurance
to the federal employee workforce. We are proud to have been part of the Federal Employees Health Benefits (FEHB) Program since its inception in 1960.
Can you have Tricare and FEHB at the same time?
Yes, if you are eligible for this TRICARE program, you can suspend your FEHB coverage
. How well did this answer your question?
Why is BCBS standard better than basic?
Basic Option provides coverage for preventive dental care services only, while Standard Option
provides coverage for preventive dental care and some other non-routine services
.
Which is better TriCare or FEHB?
TriCare on average is far less expensive than traditional FEHB coverage
. This is often why Federal employees who are eligible to participate in TriCare choose to keep that coverage in place as their primary insurer. You can enroll in TriCare and suspend your FEHB options.
Is federal health insurance pre tax?
The amount of FEHB premiums that you prepay will be treated on a pre-tax basis, if it is deducted from your pay and you participate in premium conversion
.
Is FEHB self funded?
By entering into a contract with OPM, each carrier agrees to bear the cost of benefits offered under FEHB health benefit plans. All such FEHB plans are fully insured. In this sense,
no FEHB plan is “self-insured” by the Federal Government
.
Do federal employees get benefits for life?
In most cases, if you are a new Federal employee,
you are automatically covered by Basic life insurance
and your payroll office deducts premiums from your paycheck unless you waive the coverage. In addition to the Basic, there are three forms of Optional insurance you can elect.
What health insurance do most federal employees have?
Most federal employees participate in the
Federal Employees Health Benefits Program (FEHBP)
, a type of federal health insurance available to non-military, federal government employees and retirees. FEHBP is administered through the Office of Personnel Management (OPM).
At what age will a person normally enroll with an insurance carrier under a Part C Medicare Advantage Plan?
People can enroll in Original Medicare if they are
65 years of age or older
and are a citizen of the United States or have been a legal permanent resident for at least 5 years. Specific rules apply to those younger than 65 who have certain illnesses or disabilities. Read more about eligibility under the age of 65 here.
Are banks considered federal employees?
As we know, the Department of Labor has historically taken the position that
banks are federal government contractors
because we obtain “insurance” through our FDIC relationship. As such, we are subject to Affirmative Action Plan and other technical obligations.
How does the federal government work?
To ensure a separation of powers,
the U.S. Federal Government is made up of three branches: legislative, executive and judicial
. To ensure the government is effective and citizens' rights are protected, each branch has its own powers and responsibilities, including working with the other branches.
Is USPS considered a federal job?
Technically,
employees of the United States Postal Service are not federal employees
. The USPS operates as an independent, self-governing agency under the executive branch and receives no taxpayer dollars for its operations. Employees receive federal benefits, but ultimately their employer is not the U.S. government.
Why is federal health insurance so expensive?
According to OPM, the cost increase for insurance was largely driven by
medication prices, chronic illness costs and medical innovation
. Costs related to COVID-19 and increased demand for mental health services also drove up prices, and OPM reported that COVID-19 cost the FEHB program about $1 billion in 2020.
What are the disadvantages of a federal government?
Federalism also comes with drawbacks. Chief among them are economic disparities across states, race-to-the-bottom dynamics (i.e., states compete to attract business by lowering taxes and regulations), and the difficulty of taking action on issues of national importance.
What is a federal benefit?
The federal benefit rate is
the amount of money the Federal government provides for supplemental security income recipients
. As of 2021, the benefit rate is $794 for individuals and $1,191 for couples, but the rate usually increases annually.
What is Fepblue MRA?
Welcome to Your
Medicare Reimbursement Account
(MRA) As a Basic Option member enrolled in Medicare Part A and B, we'll reimburse you up to $800* per calendar year for your Medicare Part B premium payments. You must submit proof of premium payments through the online portal, WageWorks EZ Receipts app or by fax or mail.
What is out of pocket maximum?
The most you have to pay for covered services in a plan year
. After you spend this amount on deductibles, copayments, and coinsurance for in-network care and services, your health plan pays 100% of the costs of covered benefits. The out-of-pocket limit doesn't include: Your monthly premiums.
Does Fepblue cover Silver Sneakers?
As a Blue Cross Blue Shield member,
your health plan may already include SilverSneakers program membership as an added benefit
. That means free gym access to multiple SilverSneakers fitness locations and exercise classes led by certified instructors who know how to help seniors stay fit.
Is TRICARE a federal program?
Tricare (styled TRICARE) is
a health care program of the United States Department of Defense Military Health System
. Tricare provides civilian health benefits for U.S Armed Forces military personnel, military retirees, and their dependents, including some members of the Reserve Component.
Is TRICARE federal insurance?
Tricare is the U.S. military's health care program and functions as
government-managed health insurance
. Tricare's various coverage plans provide health care for millions of current and former service members and their families. Tricare is managed by the Pentagon's Defense Health Agency.
Can federal employees use TRICARE Reserve?
A previous measure from the congressman passed as part of the fiscal year 2020 National Defense Authorization Act, which sets annual spending and policy priorities for the Pentagon, made
TRICARE Reserve Select eligible for all federal employees and National Guard federal technicians starting in 2030
.
