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n Premium Conversion Waiver Form n Q&As on Premium Conversion n Worksheet for Effects of Premium Conversion on Social Security Benefits n Bureau Insurance Contacts |
Employees are now able to pay health benefit premiums on a pre-tax basis! This is called premium conversion.Participation in premium conversion is automatic unless you submit a waiver form to your servicing personnel office. New employees eligible to enroll in the Federal Employees' Health Benefit Plan (FEHB) must submit a waiver form with their FEHB enrollment form. After that, you may only change your participation each year during the FEHB Open Season or if you have a qualifying life event (such as, marriage, birth of a child, or change in your spouse's employment). It is Important to note that participation in premium conversion does limit your ability to drop your health coverage or change from family to self-only coverage outside of an open season. To learn more, check out the Question and Answer brochure from the Office of Personnel Management.
Premium conversion may slightly reduce the social security benefit you will be eligible for upon retirement. This worksheet will help you see the effect on your social security benefits.
Questions? Please contact your servicing personnel office (SPO). If you need help getting in touch with your local servicing personnel office, call your Bureau/Office Insurance Officer. They will help direct you to the right place.
