An overview of two key benefits federal employees need to navigate at retirement: FEHB health insurance eligibility (requiring five consecutive years of participation) and FEGLI life insurance, including why comparing private insurance options can pay off as FEGLI costs rise in your 50s.
Video Transcript
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Two important benefits to navigate as you retire or separate from service from the government are your health insurance benefits and your life insurance options.
Regarding health insurance, it's important to know that you have had to have participated for five consecutive years to be eligible to carry that health insurance over into your retirement.
With life insurance and FEGLI, as you transitioned into retirement, you can keep that FEGLI. What we found is it can become more expensive and cost prohibitive as you get into your 50s. Some things we suggest you consider are private insurance. See if you're eligible. See what those costs are and those benefits are. With a lot of our clients, they have found that it is less expensive and they get more benefit in the private sector relative to what they're eligible for in FEGLI.
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