As a federal employee - you are eligible to elect employee benefits; unless your position is excluded by law or regulation. Your Human Resource representative or local administrative person will determine your eligibility. The benefits you may be entitled to are described below. Please note the specific time frames for making these decisions.
For an overview of basic information on all the insurance benefits, check out the SNAPSHOT for New/Newly Eligible Federal Employees. For more information on Federal benefits go to https://www.opm.gov/healthcare-insurance.
Please contact a Benefit representative at 317-212-0454 if you have questions regarding employee benefits.
Health Insurance (FEHB)
With the Federal Employees Health Benefits (FEHB) Program you have a variety of health plans to choose from. Review the FEHB Program overview to explore your options. Be sure to review the individual plan brochures prior to choosing a plan. This site also provides links to a variety of information and tools, including a Plan Comparison Tool.
After you begin work, you make your selection online utilizing EBIS, even if you elect not to enroll. New enrollments are effective the first day of the pay period after the electronic enrollment is made. You have 60 days from the date of your appointment to enroll. Once your initial selection is made, you are only able to make changes during the annual FEHB Open Season. There are a number of other qualifying life events which would allow you to enroll or change your FEHB coverage outside of Open Season.
Premium Conversion (PC) is a "pre-tax" arrangement where your health insurance premium is non-taxable. This will allow you to save on federal income tax and FICA taxes (Social Security and Medicare taxes). Generally, you will save on state and local income taxes. You are automatically enrolled in PC. You have an opportunity to waive PC at your first opportunity to enroll for health benefits or during an Open Season. For additional information, you can visit: http://www.opm.gov/insure/health/reference/premconversion/index.asp.
Optional Dental and Vision Coverage (FEDVIP)
Supplemental dental and vision benefits are available to federal employees and eligible family members. There are ten insurance carriers that provide coverage under the Federal Dental and Vision Insurance Plan (FEDVIP). Each plan has an on-line brochure explaining premiums and benefits. Prior to enrolling via BENEFEDS, you are encouraged to explore available plan options on the BENEFEDS website. This site also provides links to a variety of information and tools, including a Plan Comparison Tool. You have 60 days from the date of your appointment to enroll.
Flexible Spending Accounts (FSAFEDS)
The Flexible Spending Accounts (FSA) program allows employees to use pre-tax deductions to pay for eligible dependent care expenses or certain health care expenses not reimbursed by another source. Please visit the FSAFEDS website or call toll-free 1-877-FSAFEDS (1-877-372-3337) to speak to an FSA representative. For hearing impaired employees, the TTY/TDY number is 1-800-952-0450. You have 60 days from the date of your appointment to enroll – however enrollment must occur before Oct 1 of the calendar year.
Federal Long Term Care Insurance (FLTCIP)
Long Term Care (LTC) is an insurance you may need if you can no longer perform everyday tasks by yourself such as getting dressed, eating, or bathing. It also includes the kind of care you would need if you had a severe cognitive impairment like Alzheimer's disease. Please visit the FLTCIP website for enrollment and benefit information, or call 1-800-LTCFEDS (1-800-582-3337). For hearing impaired employees, the TTY number is 1-800-843-3557. You have 60 days from the date of your appointment to complete the application for enrollment.
Life Insurance (FEGLI)
The Federal Employees Group Life Insurance (FEGLI) offers you choices on coverage for yourself and eligible family members. Please visit the FEGLI Program overview for complete information, including a calculator to help you determine the value and cost of coverage. Please read this information carefully. You automatically have Basic Life Insurance coverage as of the date of your appointment. You may elect additional optional coverage or you may waive all coverage. However, if you waive coverage there are no regular open seasons for life insurance and very limited opportunities to re-enroll. You must carry Basic coverage in order to elect additional optional coverage. You will use EBIS to enroll. You have 60 days from the date of your appointment to enroll.
Retirement
With some exceptions, the following rules apply to retirement coverage:
· If you are a newly covered employee, with less than five years of prior federal civilian service, you are covered by the Federal Employees Retirement System (FERS). Please visit the FERS Retirement overview to learn more about the benefits of the plan, which includes a Basic Annuity, Social Security and the TSP.
· If you are a rehired employee who was previously covered by the Civil Service Retirement System (CSRS), and your break in federal civilian service was less than one year, you are covered by CSRS.
· If you are a rehired employee who was previously covered by the CSRS and your break in service was more than one year, and you had more than five years of prior federal civilian service, you are covered by CSRS-Offset.
· If you are a rehired employee who had a break in service ending after 12/31/86, and you had completed five years of creditable civilian service by 12/31/86, you are covered by CSRS-Offset.
If you are covered by CSRS or CSRS-Offset, you have a six month period from the date of your appointment to elect to transfer to FERS. You may compare the benefits of both plans, and make your decision to remain in CSRS or transfer to FERS.
You have the opportunity to buy your military service toward your civilian retirement. For information, go to Military Buy Back.
TSP
The Thrift Savings Plan (TSP) is a voluntary retirement savings and investment plan for FERS and CSRS/CSRS-Offset employees. A major advantage of the TSP is that you pay no taxes on contributions or earnings until you withdraw your account. Please visit the TSP website to learn more.
Participation in TSP is optional, but strongly encouraged, especially for FERS employees because it is a major portion of the total retirement benefit package. New employees are automatically enrolled to contribute 3 percent to their TSP. You may elect to change or stop the contributions using EBIS.
The TSP Service Office will issue you a TSP initial password which you will use to choose your investment funds, using the TSP website or the ThriftLine. After you have used that password once to log into Account Access on the TSP website, you will be able to change it to a password of your choice. Your contributions will be invested in the G Fund until your fund allocation is processed. How your fund contributions are allocated (percentages) can only be changed via the TSP website. The amount you contribute can only be changed via EBIS.