Summary
- If eligible, you are automatically enrolled in Basic insurance, unless you waive it.
- You must elect Optional insurance, within strict time limits, if you want it.
- You must be enrolled in or elect Basic insurance in order to elect Optional insurance.
- The U.S. Postal Service pays the entire cost of your Basic life insurance. You pay 100% of the cost of Optional insurance.
- You can voluntarily waive/cancel insurance coverage at any time unless you have assigned your coverage. If you cancel Basic insurance, you automatically cancel all forms of Optional insurance.
- For some types of coverage, you can elect more coverage by submitting satisfactory medical information or by experiencing a qualifying life event.
- Open Seasons are held infrequently. The 1999 and 2004 Open Seasons are the most recent.
- It is your responsibility to know the amount of your coverage, when it starts, when it stops, and who is entitled to payment of the death benefits.
TABLE OF EFFECTIVE DATES - NEWLY ELIGIBLE U.S. POSTAL SERVICE EMPLOYEES
BASIC COVERAGE
|
If You Do Nothing |
If You WAIVE* it DURING Your First Pay Period |
If You WAIVE* it AFTER Your First Pay Period |
Coverage |
Begins on the first day you're in a pay and duty status. |
Your coverage is voided. |
Ends on the last day of the pay period in which your local personnel office receives your waiver. |
Deductions |
U.S. Postal Service employees do not pay for Basic |
OPTIONAL COVERAGE
|
If You Do Nothing |
If You Elect* it Within the 31 Days After Your Appointment to an Eligible Position |
If You Want it After Those 31 Days |
Coverage |
No Coverage |
Begins on the first day you're in a pay and duty status on or after the date your local personnel office receives your election. |
Your Opportunities to Elect Optional Coverage After Those 31 Days are Limited. See pages 11 - 12 |
Deductions |
No deductions. |
Begin the first pay period you're in a pay and duty status after your local personnel office receives your election. |
* "Elect it" and "Waive it" means your local personnel office received a properly completed SF 2817 "Life Insurance Election" from you.