U.S. Office of Personnel Management - Ensuring the Federal Government has an effective civilian workforce
Insurance Services Programs
FEGLI Program Booklet For U.S. Postal Service Employees
General Information
OPTION B Additional
You may elect Option B-Additional in an amount equal to one, two, three, four or five times your annual rate of basic pay (after rounding up to the next even $1,000).
HOW MUCH DOES OPTION B COST?* |
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|---|---|---|---|---|
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WITHHOLDING FOR EACH $1,000 INSURANCE |
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|
2004 |
2005 |
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Your Age Group** |
Biweekly |
Monthly |
Biweekly |
Monthly |
Under 35 |
$0.03 |
$0.065 |
$0.03 |
$0.065 |
35 - 39 |
0.04 |
0.087 |
0.04 |
0.087 |
40 - 44 |
0.06 |
0.130 |
0.06 |
0.130 |
45 - 49 |
0.09 |
0.195 |
0.09 |
0.195 |
50 - 54 |
0.14 |
0.303 |
0.14 |
0.303 |
55 - 59 |
0.28 |
0.607 |
0.28 |
0.607 |
60 - 64 |
0.60 |
1.300 |
0.60 |
1.300 |
65 - 69 |
0.71 |
1.538 |
0.72 |
1.560 |
70 - 74 |
1.03 |
2.232 |
1.20 |
2.600 |
75 - 79 |
1.43 |
3.098 |
1.80 |
3.900 |
80 and over |
1.83 |
3.965 |
2.40 |
5.200 |
* These are the rates through 2005. They may change in future years. For more information, see the FEGLI website at www.opm.gov/insure/life.
** For insurance withholding purposes, we assume you reach these ages on the first day of the pay period that starts after your birthday.
Consider this example
Bob, a 38-year-old U.S. Postal Service employee, is married with three children. He wants to get the maximum amount of Option B he can. He chooses five times his annual pay of $39,500 (rounded to $40,000), which totals $200,000. He is paid on a biweekly basis. Therefore, his cost is $8.00 biweekly ($0.04 x 200). Refer to the worksheet on page 25 for more information, or see the FEGLI Calculator at www.opm.gov/insure/life.
U.S. Office of Personnel Management 1900 E Street NW, Washington, DC 20415 | (202) 606-1800 | TTY (202) 606-2532