Federal & Postal Employees: Save Money with BCBS Basic Option in FEHB/PSHB Open Season
Active and retired federal and postal employees have a chance to save money during the upcoming FEHB/PSHB Open Season. They can switch from the BCBS Standard option to the BCBS Basic option, which offers lower premiums and cost-sharing benefits for Medicare enrollees.
The BCBS Basic option (Plan 113, Self Plus One) has a monthly premium of $593.97, a significant reduction from the Standard option's $832.31. This switch can result in substantial savings.
For those enrolled in Medicare Part B, the BCBS Basic option offers additional savings. Medicare will be the primary payer for services from BCBS Preferred Providers, leaving the enrollee with a $0 copay. Moreover, BCBS Basic members can receive up to $800 back per spouse enrolled in Medicare Part B for paying Part B premiums.
Postal Service employees and annuitants will be automatically enrolled in the PSHB nationwide plan option with the lowest self-only premium starting January 1, 2025. Retiring on December 31, 2024, while covered by FEHB, allows for a smooth transition to PSHB in 2025, with OPM handling the enrollment change.
The upcoming FEHB/PSHB Open Season presents an opportunity for federal and postal employees to switch to the BCBS Basic option for lower premiums and cost-sharing benefits, especially for those enrolled in Medicare. Retiring at the end of 2024 under FEHB coverage ensures continuous health insurance without a gap, while retiring in 2025 under PSHB coverage may offer better or different benefits depending on the chosen plan.
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