November 21, 2016
This week on ForYourBenefit, our hosts Bob Leins and Tammy Flanagan, Senior Benefits Director at NITP, welcome insurance expert and author Walton Francis to the studio to talk about FEHBP open season. The Guide shows that most families can save $1000 or more by selecting better plan choices.
Francis wrote the book: Consumers’ CHECKBOOK Guide to Health Plans for Federal Employees. The guide gives you vital insurance information that you can't get from any other source. It tells you how much money you can save by changing – or staying in – your current health insurance plan, and summarizes thousands of facts about the plans to simplify your choice.
Check the list to see if your agency has purchased access to the guide for you. The guide comes in both print and Internet versions.
Included in the guide are rates for all of over 200 health insurance plans available to federal employees and retirees, including a dozen national plans, almost 200 health maintenance organization (HMO) options, and over a dozen consumer-driven and high deductible plan options.
These ratings of plan costs take into account premiums, catastrophic limits, and estimates of likely out-of-pocket costs for medical expenses of every kind.
It compares plans for insurance value in dealing with unforeseen medical expenses, not just for the routine costs you can predict. It also compares limits on out-of-pocket costs based on the actual coverage allowed by each plan, not just what the plan seems to say before you read the fine print.
Rating dental and vision plans as well, it provides dollar estimates of likely dental costs, taking into account both premiums and out-of-pocket expenses, not just descriptions. It compares dental coverage in all plans, not just stand alone plans.
It also provides up-to-date information on changes in the FEHBP program and the latest information on the increase in Medicare Part B premiums.
For questions or comments, email us in advance at ForYourBenefit@nitpinc.com or call 202-465-3080 this coming Monday. Program begins at 10:05 ET and questions/comments are accepted.