Want to save a ton of money on your federal health insurance? If so, you have three options:

1. Don the uniform of the U.S. Postal Service, or,
2. Marry your favorite, or the closest, letter carrier or postal clerk, or finally
3. Cuddle up to someone who works for the Federal Deposit Insurance Corporation. There aren’t as many FDIC types as there are postal workers, but if you want to pay low health insurance premiums, they are worth checking out.

Postal workers, thanks to their union contract, and FDIC workers (thanks to the fact that they are FDIC workers) pay lower premiums than other federal workers. As in much, much lower.

Example:

Many people who belong to the very popular Blue Cross-Blue Shield standard option have switched plans, or will switch plans today before the open season ends (see below.) They are moving, in part, because the standard option premiums will go up 13 percent in 2009. That is, next month.

But many who want to stay in the Blue Cross family are considering, or have switched to, the Blue Cross basic plan. It is highly rated (along with the APWU, NALC, GEHA and SAMBA plans) by insurance expert Walton Francis. He’s editor of CHECKBOOK’s Guide to Federal Health Plans.

Here’s an example of what the three groups of employees – regular feds, postals and FDIC folks – will pay next year if they are in the Blue Cross basic plan.

Regular federal worker or retiree: Blue Cross basic plan premiums in 2009 will be $1,110 for a self-only plan. For a family of two the premium will be $2,600 in 2009.

Postal Employees: Those who pick the Blue Cross basic self-only plan will pay only $600 for self only coverage next year, and $1,400 for a family plan. That’s nearly half the premium for regular postal employees. And, as they say, you ain’t heard nothing yet!

Guess what FDIC employees will pay next year for the same coverage? If you said $500 for self-only Blue Cross basic coverage you are correct. And for a family plan the premium will be $1,170.

That’s better (as in less) than postals pay and much, much, much better than the premium employees of the State, Justice, Commerce, Defense, OPM, or other agencies will pay.

What’s the Deal?

Some years ago the FDIC got out of the federal health program saying it could do better on its own. It didn’t and it was allowed to come back into the FEHBP. But the FDIC pays a much larger share of the premium than the postal service and an even bigger share of the total premium (about 70 percent) than the government does for most other federal workers and retirees.

If you plan to take the romantic route to lower health insurance premiums you don’t have to tie the knot (do people still say that?) today, even though the open season is about to close. Just be sure you marry him or her ASAP to get that discount premium.

Love may be blind but that doesn’t mean it is stupid!

Last Minute Deadline Change

The Office of Personnel Management has told federal agencies that they may accept enrollments through the end of January. Federal workers who wish to participate should go through their HR offices. Retirees who would like to make changes must go through OPM. For more, click here.

Nearly Useless Factoid

There really IS such a thing as a “dirty old man.” That’s the latest from the Swedish Research Council as reported by physorg.com. “Men in all categories prefer younger partners.” Also found by researchers: “Among women over 60, however, the majority were looking for a younger man.”

To reach me: mcausey@federalnewsradio.com

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