Most Federal Employees Health Benefits program enrollment changes occur during the yearly open season, although specific changes are permitted at other times when a person has a “qualifying life event.” Significant occurrences that allow enrollment or changes to enrollment include the following:
A change in one’s family situation, such as a divorce, legal separation, the birth or adoption of a child, the adoption of a foster child, or the passing of a spouse or other dependant.
A change in employment status occurs when you return to work after an absence of more than three days when your coverage expires due to a leave of absence lasting more than 365 days, when your pay increases sufficiently for premiums to be withheld, when you are reinstated to the workforce after serving in the uniformed services, or when you transition from a temporary appointment to one that involves more responsibility.
When you or a family member loses FEHB or other coverage under another FEHB enrollment due to the covering enrollment being terminated, canceled, or changed to self-only coverage; under another federally sponsored health benefits program; under Medicaid or another similar state-sponsored program for the needy; due to the termination of your membership in the employee organization that sponsors the FEHB plan; or under a non-federal health plan.
You can enroll, modify your enrollment to a different FEHB plan or option, change your enrollment to self-only, cancel your enrollment, or modify your enrollment between self-only, self and family, and self plus one. However, a “self-alone” change may only be done if the enrollee becomes the final eligible family member covered by the FEHB membership due to the event. A cancellation is also only permitted if the enrollee can demonstrate that due to the qualifying life event, they and any eligible family members now have access to other health care coverage.
The SF-2809 form, available at www.opm.gov/forms, has a table listing the permitted adjustments for each circumstance.
You have the option to end your enrollment at any time. But if you do, neither you nor any family members covered by your enrollment will be allowed to enroll in a short-term continuation of coverage or switch to a non-group plan. The FEHB program generally prohibits re-registration after a voluntary cancellation of participation. OPM will fully explain how this would affect your legal rights if you ask them to revoke your enrollment.
You can choose to put your enrollment on hold. Enrollments are typically halted because the enrollee wishes to enroll in a Medicare-managed care plan or become a family member of someone else enrolled in the self- and family FEHB program.
After entering the financial services industry in 1994, it was a desire to guide people towards their financial independence that drove Aaron to start Steele Capital Management in 2013. Armed with an extensive background in financial planning and commercial banking coupled with a sincere passion for helping people, Aaron has the expertise and affinity for serving the unique needs of those in transition. Clients benefit from his objective financial solutions and education aligned solely with
helping them pursue the most comfortable financial life possible.
Born in Olympia, Washington, Aaron spent much of his childhood in Denver, Colorado. An area outside of Phoenix, Arizona, known as the East Valley, occupies a special place in Aaron’s heart. It is where he graduated from Arizona State University with a Bachelor of Science degree in Business Administration, started a family, and advanced his professional career.
Having now returned to his hometown of Olympia, and with the days of coaching his sons football and baseball teams behind him, he now has time to pursue his civic passions. Aaron is proud to serve on the Board of Regents Leadership for Thurston County as the Secretary and Treasurer for the Morningside area. His past affiliations include the West Olympia Rotary and has served on various committees for organizations throughout his community.
Aaron and his beautiful wife, Holly, a Registered Nurse, consider their greatest accomplishment having raised Thomas and Tate, their two intelligent and motivated sons. Their oldest son Tate is following in his father’s entrepreneurial footsteps and currently attends the Carson College of Business at Washington State University. Their beloved youngest son, Thomas, is a student at Olympia High School.
Focused on helping veterans and their families navigate the maze of long-term care solutions, Aaron specializes in customized strategies to avoid the financial crisis that care related expenses can create. Experience has shown him that many seniors are not prepared for the economic transition that takes place as they reach an advanced age.
With support from the American Academy of Benefit Planners – an organization with expertise and resources on the intricacies of government benefits – he helps clients close the gap between the cost of care and their income while protecting their assets from depletion.
Aaron can help you and your family to create, preserve and protect your legacy.
That’s making a difference.
Investment advisory services are offered through BWM Advisory, LLC (BWM). BWM is registered as an Investment Advisor located in Scottsdale, Arizona, and only conducts business in states where it is properly licensed, notice has been filed, or is excluded from notice filing requirements. This information is not a complete analysis of the topic(s) discussed, is general in nature, and is not personalized investment advice. Nothing in this article is intended to be investment advice. There are risks involved with investing which may include (but are not limited to) market fluctuations and possible loss of principal value. Carefully consider the risks and possible consequences involved prior to making any investment decision. You should consult a professional tax or investment advisor regarding tax and investment implications before taking any investment actions or implementing any investment strategies.
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