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Premiums for Federal Employees to Increase by 6.1 Percent

Image: Premiums for Federal Employees to Increase by 6.1 Percent
(Lynne Cameron/AP)

By    |   Wednesday, 04 October 2017 03:34 PM

Federal employees' health insurance premiums will rise by an average of 6.1 percent this year, The Washington Post reports.

The Office of Personnel Management announced the increase in premiums for those in the Federal Employees Health Benefits Program, the largest employer-sponsored health insurance program in America with 8.3 million people enrolled, on Wednesday.

The announcement comes roughly one month before the beginning of open season, when employees can choose their insurance plans.

"Open Season is important because these health benefits can help federal employees care for themselves and their families," reads a statement from OPM Acting Director Kathleen McGettigan, according to the Post. "I urge federal employees and retirees to carefully review their healthcare needs and to choose wisely among the plans and enrollment options available to them during this enrollment period."

Two-thirds of those enrolled with Blue Cross/Blue Shield will pay $7.17 more on a biweekly basis for self-only coverage, $17.04 more for themselves and one additional person, and $17.72 for themselves and their entire family. Those enrolled with other companies will see their premiums rise $5.57, $12.55, and $12.17 respectively on average.

According to the Post, OPM claimed it "encouraged all insurance carriers to thoroughly evaluate their healthcare options to find ways to improve affordability, reduce costs, and improve the quality of care and the health of the enrolled population. Negotiations were geared to keep premium increases as low as possible while minimizing changes in out-of-pocket costs, such as for deductibles, co-pays, and coinsurance."

The share of the premiums paid for by the government will rise by 3.2 percent on average, while the overall average that includes that employer and employee share will rise 4 percent on average.

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Federal employees' health insurance premiums will rise by an average of 6.1 percent this year, The Washington Post reports.
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Wednesday, 04 October 2017 03:34 PM
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