For Your Benefit

November 8, 2021 on ForYourBenefit, our hosts Bob Leins, CPA®, and Tammy Flanagan, Senior Benefits Director NITP, welcome insurance expert and author Walton Francis to talk about FEHBP Open Season. The Consumers’ CHECKBOOK Guide shows that most families can save $2,000 or more by selecting better plan choices.

Francis is the principal author of both online and print versions of Consumers’ CHECKBOOK Guide to Health Plans for Federal Employees. The Guide gives you vital insurance information that you cannot get from any other source. It tells you how much money you can save by changing – or by staying in – your health insurance plan, and summarizes thousands of facts about the plans to simplify your choice.

At the Guide’s website, www.guidetohealthplans.org, you can check to see if your agency has purchased access to the Guide for you.

It rates about 275 health insurance plans available to all Federal employees and retirees, including twenty national plans, over 200 health maintenance organization (HMO) and preferred provider (PPO) local area options, and over a dozen consumer-driven and high deductible plan options. The Guide rates not only regular insurance plans open to both employees and annuitants, but also about 20 plans open only to annuitants on Medicare that provide special Medicare benefits, pay most or all of the Part B premium, or both. Its ratings of plan costs take into account premiums, catastrophic limits, and estimates of likely out-of-pocket costs for medical expenses of every kind.

The Guide compares plans for insurance value in dealing with unforeseen medical expenses, not just for the routine costs you can predict.

It rates dental and vision plans as well. It provides dollar estimates of likely dental costs, taking into account both premiums and out-of-pocket expenses. It compares dental coverage in all plans, not just stand alone plans.

For questions or comments, email us in advance at [email protected]

November 1, 2021 on ForYourBenefit, host Bob Leins, CPA® and co-host Ray Kirk, Ph.D., Federal Benefits Specialist, NITP, welcome Jay Fritz, Program Manager, Outreach & Program Services, Healthcare and Insurance, U.S. Office of Personnel Management.

It is that time of year again for employees and annuitants to review their Open Season options, which include health plans, dental and vision plan companies, FSAs, etc.

Today’s discussion will include:

Federal Open Season:  November 8 – December 13, 2021

What programs participate in Open Season?

How can I prioritize my Open Season shopping list?

What options do I have?

What if I do nothing?

Resources for further information:

Visit opm.gov/openseason

Find us on Facebook at facebook.com/usopm

For Twitter News and Updates: https://twitter.com/usopm

See your Human Resources Office

How do I make an Open Season election or change?

Flexible spending accounts under FSAFEDS (employees only): FSAFEDS.com or call 1-877-FSAFEDS (372-3337) or TTY 1-866-353-8058.

Dental or vision under FEDVIP:  Everyone – go to BENEFEDS.com or call 1-877-888-3337, TTY 1-877-889-5680.

FEHB: Employees - use the Health Benefits Election Form (SF 2809) or use an online self-service system; your agency’s human resources office can help you.  Retirees - go to Open Season Online at https://retireefehb.opm.gov or call Open Season Express at 1-800-332-9798, TTY 1-855-887-4957.

For questions or comments, email us in advance at [email protected]

October 25, 2021 on ForYourBenefit, host Bob Leins, CPA® and co-host Tammy Flanagan, Senior Benefits Director at NITP, Inc. welcome back Paula S. Jakub, RHU; CEO at The American Foreign Service Protective Association, sponsor of the Foreign Service Benefit Plan.

Today’s topic will focus on things to consider during Federal Open Season and how to get the most out of the health plan you choose. Paula is a Subject Matter Expert in Federal Health Insurance and serves on the adjunct faculty of the Foreign Service Institute. Paula will discuss:

FEHB PROGRAM

Impact of COVID-19

No Surprises Act – What it means for you

Understanding the programs and services available to you

Collaboration on chronic conditions

Using the Plan’s Wellness Programs

Consider how you use health care

What will Open Season look like this year?

FEDVIP

Make sure you understand these supplemental plans

FSAFEDS

Pre-tax reimbursement for eligible costs

What is an eligible cost?

Rules on carryover amounts

Send in a question: Email us in advance at [email protected]

October 18, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Brian Kurrus, CFP®

What are the individual TSP fund options and how much risk do they take?

What are the Lifecycle funds? How are they allocated? How do the allocations change over time?

TSP investment options: What’s new?

How should you invest your TSP and when should you consider making changes?

What are common TSP investment mistakes and how can they be avoided?

Send in a question: Email us in advance at [email protected]

October 4, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes David De Jong and Steve Widdes, tax and estate attorneys, Stein Sperling Bennett De Jong Driscoll PC.

Congress is once again considering significant tax legislation that would affect ordinary income tax rates, capital gain rates, retirement plans and estate planning. While much of the proposed increases would affect upper income individuals, many of the provisions would have broader effect. Tax and estate attorneys, David De Jong and Steve Widdes, of the Rockville law firm of Stein Sperling will review the prospective changes, the rationale behind them and any planning opportunities that may be created.

Send in a question: Email us in advance at [email protected]

September 27, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes WAEPA CEO M. Shane Canfield and WAEPA CIO Brandon T. Jones.

As the country continues to battle the pandemic, the importance of Federal service and Federal leadership have never been more important. But how do we inspire the next generation of civilian Federal employees to answer the call to action? WAEPA’s leadership will discuss the future of the Federal workforce, the challenges that workforce will face, and the skills necessary to meet those challenges head on.

Send in a question:  Email us in advance at [email protected]

September 20, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Anne Sullivan, Esq. and Lacey Yegen, Esq.  This is a common topic, but one that people ask a lot of questions about.  Today’s program plans to address:

Types of trusts

Revocable living trusts explained

Advantages and drawbacks of having a revocable living trust

Are you the right candidate for a revocable living trust?

Whether to get a joint or separate revocable living trust

Retitling assets to the living trust

What a revocable living trust will not do for you (asset protection and Medicaid planning)

Common questions and pitfalls to avoid (e.g., refinancing home in trust; how to amend/revoke a living trust; what happens if the trust is not funded; accidentally making a revocable living trust a beneficiary of a tax-deferred retirement account)

How trust administration works after death.

Send in a question:  Email us in advance at [email protected]

September 13, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes David Santana, Health Insurance Specialist from the Centers for Medicare and Medicaid Services, to discuss your health care coverage options.

This is the time of year to ensure that you have the right health, dental or vision insurance coverage for you and your family. It is also the time to consider other health care coverage options, such as Medicare. Did you know that FEHB Open Season and Medicare Open Enrollment are not the same?

Some of the topics for this program include:

The difference between FEHB Open Season and Medicare enrollment periods

When you can enroll in Medicare and Medicare Health Plans

How Medicare works with FEHB—who pays first?

Do my FEHB premiums change when Medicare pays first (is primary)?

Do I have to enroll in Medicare?

How about Medicare Health Plans (Medicare Advantage Plans)

How much does Medicare cost?

Is there premium assistance for Medicare Part B?

Which part of Medicare do I need?

How do I enroll in Medicare?

2021 FEHB Open Season is from November 8, 2021 through December 13, 2021.

Send in a question: Email us in advance at [email protected]

August 30, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes David Melton, Public Affairs Specialist, Social Security Administration.  David will answer these questions and also provide an update on accessing SSA services during the pandemic.

When am I eligible?

How much will I receive?

What If I still work?

Does my government pension affect Social Security benefits?

How do I apply for benefits?

How do I access services now?

Send in a question:  Email us in advance at [email protected]

August 23, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Marc Levine, Esq., Handler & Levine, LLC.

As the country sees a possible repeat of Covid slowdowns and shut downs, host Bob Leins welcomes Marc S. Levine, Esq., to discuss how to think about your estate planning.  Marc will discuss what he wishes clients had been thinking about in the winter of 2019-2020, pre-Covid-19, and what you can and should be doing now.

Today’s guest will talk about:

The practical application and uses of powers of attorney and health care directives,

How important it is to review your current estate planning with a critical and practical eye,

How to review and update beneficiary designations to make sure they will work with, and not against, the rest of your estate plan.

 

Send in a question:  Email us in advance at [email protected]