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Open Season runs Nov 9 – Dec 14, and premiums are up by double digits for the third year in a row. Here's a 7-step checklist to review your FEHB, dental, vision and FSA in about an hour, before the deadline.
Quick facts: 1) Mark the dates: Open Season runs Nov 9 – Dec 14 (11:59 pm). New coverage starts Jan 1, 2027 for retirees and Jan 10, 2027 for employees. The average increase in what enrollees pay is 8.7% (2023), 7.7% (2024), 13.5% (2025), 12.3% (2026) and 10.9% (2027). For 2027 there are 118 plan options from 45 carriers, and 9 plan options are leaving. 2) Read "Changes for 2027" near the front of your plan's brochure. If your plan is leaving and you do nothing, OPM moves you to Compass Rose Standard. 3) Compare the real cost (premium plus your out-of-pocket) for a normal year and a bad year, because a cheaper premium can cost more in a bad year. 4) Check every doctor, hospital and prescription in next year's provider directory and formulary. 5) 65+? Line up your plan with Medicare Part B. Some plans waive deductibles or pay part of your Part B premium, and a late-enrollment penalty can apply if you add Part B later. 6) Healthy? Look at an HSA plan: the 2027 limits are $4,500 for Self Only and $9,000 for Self Plus One or Family, plus $1,000 if you're 55+, and the plan's own HSA deposit counts toward the limit. 7) Re-enroll in FSAFEDS (it doesn't carry over) and review FEDVIP (dental up 1.0%, vision up 1.6% on average). New for 2027: adding a spouse or child requires proof such as a marriage certificate or birth or adoption records. Make your changes by Dec 14: employees through their agency's self-service system, retirees through OPM Retirement Services Online, and dental, vision and FSA through BENEFEDS and FSAFEDS. Then check your first January pay stub or annuity statement.
Educational only, not tax, investment, or legal advice. Haws Federal Advisors | HawsFederalAdvisors.com
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