Don’t miss out on potential benefits during open enrollment! Most changes to benefits occur during a PCS or change in status (switching between active and reserve components). However, you need to consider some new benefits.
What is Open Season?
The Federal Benefits Open Enrollment season is when you can start, stop, or modify enrollment in different federal benefits. It normally starts on the second Monday of November and ends the second Monday of December, but the official dates will be posted on the Office of Personnel Management (OPM) site.
But why?
In general, open enrollment periods are so people can’t buy coverage right before they need to make a claim and stop paying for coverage immediately afterward. Federal benefits like vision and dental coverage are administered by private insurance carriers, so this makes sense.
When you look at these federal benefits, most are tailored toward non-military federal employees. However, there are a few specific programs that military families are eligible for. You can enroll during the open season or when there’s another “qualifying” event. These programs include the Uniformed Services Dependent Care Flexible Spending Account (DCFSA), the Federal Employees Dental and Vision Insurance Program (FEDVIP), and The US Family Health Plan (USFHP).
Uniformed Services Dependent Care Flexible Spending Account (DCFSA)
The DCFSA only recently became available for service members as of 2024 (enrollment in 2023). In short, it’s a special account where you can have money deposited from your paychecks to help pay for qualifying dependent care expenses. The money you put into the DCFSA is deducted from your income, saving you money on taxes.
Depending on income levels, you could save up to 30% on taxes, up to the $5,000 limit per household. Check the FSAFEDS website for more information.
Federal Employees Dental and Vision Insurance Program (FEDVIP)
For most military families, only vision insurance is offered through FEDVIP. Active-duty service members are not eligible, but their family members, retirees, reservists, and guardsmen may be able to get coverage. Be sure to check your eligibility on the BENEFEDS website.
It’s important to weigh your costs and check to see what’s covered. Depending on where you’re stationed, you may have many options available.
US Family Health Plan
The US Family Health Plan (USFHP) is private insurance contracted by TRICARE. In essence, your family could receive TRICARE-like coverage through a private insurer. Many families in the National Capitol Region might know this as the “Johns Hopkins Plan.” However, different companies cover many other regions under the program.
You may have received a USFHP brief when you in-processed. If you’re anything like the rest of us, you might remember some of the briefings we’re bombarded with as we arrive at a new installation. Regardless, if you want to switch from “regular” TRICARE Prime to one of the USFHP options, you’ll want to be ready before the open season begins.
You may also be able to enroll or disenroll when you have a qualifying event, like when you PCS.
How to prepare for Open Season
The biggest thing you need to do to prepare for Open Season is to do your research and get organized. Start learning about these benefits and gather paperwork now so you’re ready to start the process. Most of the programs only take a few minutes to request, but some might be more involved. Keep an eye out for even more benefits the DOD announced recently.
Your family’s personal situation is unique, so contact these services directly before November to confirm eligibility, weigh options, and ask questions.
Visit the Enlisted Money Guy website for more resources.
