Can’t tell the players without a program

By Suzanne Kubota
Senior Internet Editor
FederalNewsRadio.com

With open season is right around the corner, FederalNewsRadio asked Lee Dettman, Assistant Director for Insurance Services Programs at the Office of Personnel Management, about what’s coming up and what’s different for 2009.

Dettman says to look for a couple of name changes, changes in benefits, and the inevitable cost increases.

Name Changes

Dental – CompBenefits changes to Humana CompBenefits

Vision – Spectera changes to United Health Care Vision Plan

“We don’t want people to be confused by the change in names: these are the same plans that have been with us for the last couple of years.”

Service Areas

Dental – Humana CompBenefits adding four states.

Benefits Changes

Dental – Aetna increasing non-orthodontia annual benefit maximum for individuals.

Dettman offers Aetna as an example of dental cost increases at about 5.5%.

These are just examples of changes. Check to see if your plan has changed, and by how much, by taking a look at this year’s brochure.

Other Considerations

Registered employee benefit consultant, Ed Zurndorfer points out “you can save some money (by signing up for vision coverage,) but you have to make sure the plan you’re in will be accepted” by your optometrist or eye doctor.

Keep in mind that federal employees and retirees pay all the costs of the premiums: there is no federal government contribution like there is for the health insurance. All employees, all retirees, pay the full cost of their health insurance plans as well as any co-payments and deductibles, so maybe they’re better off not buying the insurance and self insuring.

Do the Homework

Sit down with pencil and calculator, says Zurndorfer. “If there’s not a lot of potential loss here by not buying the insurance, maybe you’re better off not buying it.” Consequently, Zurndorfer says, “if you’re paying a lot of premiums for vision insurance and you don’t incur a lot of expenses, what is the reason for buying it in the first place? There has to be some planning here.”

While glasses and contact lenses aren’t exactly cheap, Zurndorfer points out that buying additional vision insurance “may not be worth it, especially if you have a Flexible Spending Account in which you can use pretax dollars for paying for almost all these expenses.”

Open season runs from November 10th to December 8th.

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On the Web:

OPM – FEDVIP Main

Benefeds – Enrollment site

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