FEHBP

INSURANCE CO-PAYMENTS:

We have to expects that co-payments in many FEHBP plans will jump sharply this year as insurance companies determine what the U&C (usual and customary) cost is, or should be, and then base co-payments according. Imagine you have a physical that costs $500, and the insurance company says the U&C is actually $400. Your normal co-payment would be $20. But now the company sets the U&C level at $400, for a service that costs $500, and the company requires that you pay 20 percent of the U&C(.20x$400=$80), which means your co-payment will be $80 on a $500 service. Your co-payment jumped from $20 to $80. They might even require you to pay a percentage of the$500, which might mean you would even pay more co-payment. The point is you have to look very close at co-payments and extra costs this year. That is especially true when it comes to medications.

OPEN SEASON:

The Office of Personnel Management has set the 2010 Federal Benefits Open Season to begin Monday, November 8^th and run through Monday, December 13^th. During Open Season, federal employees and retirees can enroll in or change their health, vision and dental plans.

Diane Thompson from BlueCross BlueShield of Florida will be our speaker for our November 15^th meeting.