• Wed. Nov 29th, 2023

Navigating Open Enrollment: A Guide to Switching Health Plans with Ease


Nov 20, 2023

Reg Jones, a veteran member of the senior executive service, is an expert on retirement and the federal government at Federal Times. From 1979 to 1995, he served as an assistant director of the U.S. Office of Personnel Management handling recruiting, examining, white and blue collar pay, retirement, insurance and other issues. Opinions expressed are his own.

Retirement can be a complex process for many individuals who have spent a significant portion of their lives in the workforce. One aspect of retirement that can be particularly confusing is choosing a health benefits plan during Open Enrollment season. While retirees have the option to switch from one plan to another every year if desired, there are several factors to consider before making such a decision.

One common question among retirees is whether they should enroll in Medicare Part B in addition to their FEHB coverage. The National Active and Retiree Employees Association (NARFE) reports that the vast majority of retirees don’t enroll in Part B because they have adequate coverage without it. However, this may not always be the case for everyone. It’s important for retirees to carefully evaluate their healthcare needs and assess whether Part B would provide additional value beyond what their FEHB coverage already offers.

If you are considering switching from your current health benefits plan to GEHA High (313) in an effort to save money, it’s important to do your research first. You may want to consult with a financial advisor or review plan details carefully before making any decisions about your healthcare coverage during Open Enrollment season. Additionally, it’s worth noting that you may still be able to switch back to your original plan if you find that GEHA High (313) doesn’t meet your needs after all.

Overall, when it comes to retirement planning and healthcare coverage, there are many factors to consider beyond just costs savings alone. It’s important for retirees like yourself to carefully evaluate their options and make informed decisions based on your unique needs and circumstances. If you have any questions or concerns about your health benefits coverage during Open Enrollment season, don’t hesitate to reach out for expert advice from Federal Times or other reputable sources like NARFE or financial professionals who specialize in retirement planning

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