With Open Season, Federal employees begin to hear so many things, much more than whether to switch health care plans or not. They are also preoccupied with whether their plan will increase in cost and if the plan will offer the benefits including affordability. While there are many factors Federal employees have to think about, affordability of their health care plans is not one of them. The average health care plan for Federal employees will increase. The increase, however, will be small and something that should not become an issue at all for employees.
The Federal workforce is the largest in the world and that is huge when it comes to negotiating benefits. Vendors, including health care carriers, want the business of the Federal Government. The Federal Government is looking for the best prices and the best quality of service for its employees. The Government has so many choices and vendors understand that very clearly. Therefore, they are ready to offer great service and quality provisions for the Government to choose from. The Office of Personnel Management (OPM) is responsible for procuring benefits for the Federal workforce. OPM only invites those companies to participate as carriers of health insurance, dental and vision and all other benefits that can deliver two very important components – quality and affordability.
The Office of Personnel Management lists participating vendors on its website and only those vendors who offer high quality affordable health care are invited to participate in Open Season. Often Federal employees begin to have conversations with their friends and family who may or may not be Federal employees. What they are experiencing at their place of employment is decidedly different from their Federal counterparts. First, they more than likely do not have a plethora of vendors to choose from and certainly in most instances not the low cost premiums paid by Federal employees.
Federal employees who desire a single coverage or those with families reap the same benefits when it comes to some of the best premiums in the industry. Perhaps the greatest gift for all Federal employees is that their College and University students can remain on their health insurance a bit longer. Many parents were worried about cost, prior to the passage of legislation enabling young adults to stay on their parents health insurance, because they were compelled to go out and purchase health policies for their children. Purchasing the health insurance policy was totally based on what was available in the market and not bound by the cost-containment advantages afforded to the Federal workforce. That scenario represented a huge difference between what was Federal affordability versus the cost in the industry.
Overall benefits offered to Federal employees are among the best in the nation both for the employee and their families. Open Season should not be a time of worry, but merely a time when Federal workers reassess and reevaluate the benefits and services they already have and compare them to other service providers and provisions of coverage. Oftentimes Federal employees stay right where they are completely satisfied with their services. But as Federal employees get closer and closer to retirement – having a point-by-point checkup, including evaluating current benefits, is a win-win situation.
P. S. Always Remember to Share What You Know.
Dianna Tafazoli
