WASHINGTON – Federal employees and retirees on average will pay 7.7 percent more for health insurance next year under new premium information announced today by the Federal Employees Health Benefits Program.
“Federal employees, like all Americans, are constantly bombarded by the rising cost of health insurance, but today’s announcement is especially difficult to bear on the eve of a potentially catastrophic government shutdown,” said NTEU National President Doreen Greenwald.
The FEHB program overall has 159 plans for employees to choose from, depending on their location, with a wide variety of prices and coverage.
“It is also disappointing that the number of plan options has dropped since last year, but we encourage our members to do their research and choose a plan that best meets the needs of themselves and their families,” Greenwald said.
Open season for federal employees to enroll or change their health insurance for next year starts Nov. 13 and goes through Dec. 11.
The government’s share of the costs will increase by an average of 5 percent; the employees’ share will increase an average of 7.7 percent; and the overall average increase will be 5.8 percent.
The average employee cost for family coverage in a national plan in 2024 will be $276.55 per biweekly paycheck, an increase of more than $19, according to the Office of Personnel Management.
“These increases are one more reason why we support a fair pay raise for federal employees in 2024,” Greenwald said. “President Biden’s proposal to give federal employees an average 5.2 percent raise is essential to helping our nation’s civil servants keep up with rising costs and for the government to be competitive with the private sector.”
NTEU represents employees in 35 federal agencies and offices.