U.S. Office of Personnel Management - Ensuring the Federal Government has an effective civilian workforce

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?*

	WITHHOLDING FOR EACH $1,000 INSURANCE
	2004		2005
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 [260 KB] for more information, or see the FEGLI Calculator at www.opm.gov/insure/life.

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