Thinking About Retiring?

RI 70-01 For Federal Civilian Employees

Federal Benefits Facts

FEHB

• When you retire, you are eligible to continue health benefits coverage if you meet all of the following requirements:
• you are entitled to retire on an immediate annuity under a retirement system for civilian employees (including the Federal Employees Retirement System (FERS) Minimum Retirement Age (MRA) + 10 retirement); and
• you have been continuously enrolled (or covered as a family member) in any FEHB plan(s) for the 5 years of service immediately before the date your annuity starts, or for the full period(s) of service since your first opportunity to enroll (if less than 5 years).
• The 5 year requirement period can include the following:
• the time you are covered as a family member under another person's FEHB enrollment; or
• the time you are covered under the Uniformed Services Health Benefits Program (also known as TRICARE) as long as you were covered under an FEHB enrollment at the time of your retirement.
• As an annuitant, you are entitled to the same benefits and Government contributions as Federal employees enrolled in the same plan.
• The event of retirement is not a qualifying life event (QLE); however, there are other opportunities to change FEHB enrollment including during Open Season or when you experience a QLE.
• If you are not enrolled in FEHB (or covered as a family member) at the time of your retirement, you cannot enroll when you retire.
• If you are enrolled in a High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) at the time of your retirement, you can still contribute to your HSA provided you have no other insurance coverage other than those specifically allowed, and are not claimed as a dependent on someone else's tax return. Some examples of other coverage that would cause ineligibility are: Medicare, TRICARE, other non-high deductible health insurance coverage, or receipt of VA benefits within the previous three months. However, your plan will enroll you in a Health Reimbursement Arrangement (HRA).
• If you cancel your FEHB enrollment as an annuitant, you will never be able to reenroll in FEHB unless you had suspended your FEHB enrollment in order to enroll in a Medicare Advantage plan, TRICARE or CHAMPVA, or Medicaid or similar Statesponsored program of medical assistance.
• If you want your surviving family members to continue your health benefits enrollment after your death, you must be enrolled for Self and Family at the time of your death, and at least one family member must be entitled to an annuity as your survivor.

FEDVIP

• There is no 5 year requirement for continuing FEDVIP coverage into retirement.
• You can continue your coverage as a retiree or enroll during the annual Federal Benefits Open Season or when you experience a qualifying life event (QLE). Keep in mind that retirement is not a QLE.
• In most cases, changing from payroll deduction to annuity deduction is automatic, but may take one to three months to occur.
• BENEFEDS cannot deduct premiums from your annuity while you are receiving "special" or "interim" pay. Once your annuity is finalized, premium deductions will begin. If you miss one or more premium payments before your annuity is final, BENEFEDS will make double

Federal Benefits Facts

deductions until any balance due is paid. They will notify you before deducting this additional premium amount. Once there is no past due balance, the amount of premium deducted will return to the regular monthly premium.

FSAFEDS

• When you retire, you will no longer be able to participate in FSAFEDS. Your FSA will terminate as of the date of your retirement, and you will not be eligible to enroll as an annuitant. When you make your annual election for the year that you plan to retire, keep in mind that any remaining funds for which you have not incurred eligible expenses while employed will be forfeited.
• You can still submit claims for eligible medical expenses incurred prior to the date of your retirement.
• You can continue to use the remaining balance in your Dependent Care Flexible Spending Account (DCFSA) to pay for eligible dependent care expenses until the end of the Benefit Period or until your account balance is used up, whichever comes first.
• If you used your entire elected amount before you contributed all of it from your pay, you will not be responsible for the remaining payments.

FEGLI

• When you retire, you are eligible to continue your FEGLI life insurance coverage(s) if you retire on an immediate annuity and had the coverage for:
• the five years of service immediately before the starting date of your annuity or, for annuitants retiring under FERS who postpone receiving their annuity, the five years immediately before their separation date for annuity purposes, or
• all period(s) of service during which that coverage was available to you if it is less than five years, and
• you (or your assignees) do not convert the coverage to a private policy.
• If you are eligible, you will choose via Standard Form (SF) 2818 how you wish your coverage(s) to continue during your retirement.
• If you are not enrolled in FEGLI at the time of your retirement, you cannot enroll when you retire.
• You cannot newly elect or increase existing coverage after you retire. You may only reduce or cancel coverage.
• Your premiums are subject to change in the future. Your premium could change based on your age and the experience of the Program. You will be notified if there is any change in your deductions from your annuity.

FLTCIP

• Your coverage continues into retirement provided you continue to pay premiums.
• If you pay premiums via payroll deduction, then shortly before you retire, you should notify Long Term Care Partners (LTCP) at 1-800-582-3337 to make other arrangements for premium payment.
• You may elect annuity deduction if you desire. LTCP cannot deduct your premium from "special" or "interim" pay. LTCP will send you a direct bill during this time. Premium deduction will begin from your annuity once it is finalized.

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