Health insurance premiums for federal employees to rise 3.2% in 2015
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Health insurance premiums for the program that covers federal employees and retirees will increase an average of 3.2% next year, according to the U.S. Office of Personnel Management.
That 3.2% increase for the Federal Employees Health Benefits Program — the nation's largest group plan with 8.2 million enrollees — is the fourth consecutive year that the average premium increase was under 4%. Premiums increased an average of 3.7% in 2014, 3.4% in 2013 and 3.8% in 2012.
Next year's average premium increase for the federal program is in line with the 3.0% average premium increase in 2014 that the Kaiser Family Foundation found in a recent survey of more than 2,000 employers.
“The FEHB Program delivers competitive rates and high-quality benefits through an efficiently run program to attract and retain top talent in the federal service,” OPM Director Katherine Archuleta said Tuesday in a statement.
Next year, 257 health plans will be offered to federal employees and retirees, up from this year's 256. Many plans, though, operate only in specific geographic areas.
Federal employees can make their 2015 health plan selections between Nov. 10 and Dec. 8.
Employees for the first time also will be able to opt for a new feature added to flexible spending accounts. Under that feature, FSA participants will be allowed to roll over to the following year up to $500 in unused contributions. That feature was authorized last year by the Internal Revenue Service.
Previously, FSA participants in the federal program had to use funds carried over within the first 2½ months of the next year. After that, the funds were forfeited.
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