[Code of Federal Regulations] [Title 5, Volume 2, Parts 700 to 1199] [Revised as of January 1, 2001] From the U.S. Government Printing Office via GPO Access [CITE: 5CFR892.205] [Page 475] TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (Continued) PART 892--FEDERAL FLEXIBLE BENEFITS PLAN: PRE-TAX PAYMENT OF HEALTH BENEFITS PREMIUMS--Table of Contents Subpart B--Eligibility and Participation Sec. 892.205 May I waive participation in premium conversion after the initial implementation? Yes, but the opportunity to waive premium conversion is limited. You may waive premium conversion: (a) During the annual FEHB open season. The effective date of the waiver will be the first day of the first pay period that begins in the following calendar year; (b) At the same time as you sign up for FEHB when first hired or hired as a reemployed annuitant. Employees who leaveFederal service and are rehired after a three-day break in service or in a different calendar year also may waive; (c) In conjunction with a change in FEHB enrollment, on account of and consistent with a qualifying life event (see Sec. 892.101); or (d) When you have a qualifying life event and the waiver is on account of and consistent with that qualifying life event(even if you do not change your FEHB enrollment). You have 60 days after the qualifying life event to file a waiver with your employer. The waiver is effective on the first day of the pay period following the date your employer receives the waiver.