If you belong to the I’ll-Do-It-Tomorrow Club, there is good news and bad news.

The good news is that you are not alone. Not by a long shot. As many as 9 out of 10 of your fellow feds and retirees are card-carrying members.

The bad news is that “tomorrow”, as in the deadline for picking your 2015 federal health plan, is next Monday. Today is Wednesday. You do the math!

If you don’t do anything, it’s not the end of the world — provided you are already enrolled in one of the dozens of plans and options offered by the federal health program. The FEHBP is arguably the best employer-sponsored health plan in the nation. It was the template (although it is much better) for the Affordable Care Act/Obamacare. Uncle Sam pays just over 70 percent of the total premium. And all the plans are good. But …

As with all choices, some are better than others. A single healthy fed can do very well with one of the lower-premium fee or service plans, or by joining a health maintenance organization. Even better, in many cases, by picking one of the high deductible or consumer-driven plans that gives you a savings account that is yours to keep. For more on possibly “free” insurance, click here

Big families with special medical problems have other needs. Retirees fall into another category. Their health costs are typically much higher than younger workers. Yet many, according to the experts, are paying too much for a higher option plan when a less-expensive option — like Blue Cross basic or GEHA — would be just as good. And cost a lot less.

All of the plans provide good catastrophic coverage which, when all is said and done, is the main reason people buy insurance. Or should be. Do you know how much you (and spouse) would have to pay out of pocket next year in the event of a catastrophic illness or accident? If not, you should.

So, where do you go for this information? Lots of people turn to Consumer CHECKBOOK’s Guide to Federal Health Plans. Either the book, or the increasingly popular online version. Many federal agencies have subscribed to it for their employees. To find out if you are on the list, click here. If so, it means hat means you can shop online, at the office, for the best deal or deals. It doesn’t get much better than that.

You can also get help from the horse’s mouth, in this case health insurance expert Walton Francis. He writes the CHECKBOOK guide and we are fortunate enough to have him on today’s Your Turn radio show. Remember he literally wrote the book.

The show begins at 10 a.m. EST today on www.federalnewsradio.com (click the LISTEN icon). Or if you are on the road or near a radio (remember them?) in the D.C. area you can listen at 1500 AM.

Got questions? You can call in on-air at 202-465-3080, or, email them to me (before showtime) at mcausey@federalnewsradio.com

The good news is you still have time to pick your best buy and save $1,000 to $2,000 next year in premiums. The not-so-good news: You don’t have much time left!!!

NEARLY USELESS FACTOID:

By Michael O’Connell

James Ritty, a Dayton, Ohio, saloon owner, and his brother John Birch patented “Ritty’s Incorruptible Cashier” in 1883. The early cash register was designed to prevent cashiers from pocketing money from the till, thereby eliminating employee theft or embezzlement.

Source: Wikipedia

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