The average dental and vision plans under the Federal Employee Dental and Vision Insurance Program (FEDVIP) will see small increases in 2024, according to the Office of Personnel Management (OPM), which announced and posted the plans and premiums last month.
OPM manages the health, dental and vision insurance programs for federal civilian employees. Military retirees, and their beneficiaries, enrolled in TRICARE have been eligible to utilize FEDVIP programs since 2019.
MOAA Webinar: Get Ready for Open Season
MOAA conducted its annual open season webinar Oct. 24. Topics included:
- Open season dates and deadlines for TRICARE, Medicare, and FEDVIP.
- Original Medicare (Parts A & B) vs. Medicare Advantage Plans (Part C)
- FEDVIP plan terminology
- FEDVIP and TRICARE websites, including an online tour of available resources and plan comparison tools.
Click the link below to register and receive access to the webinar recording.
The 2024 average monthly dental premium will increase by 1.4%, and vision premiums by 1.1%. FEDVIP features 12 dental plan providers and five vision plan providers.
All but one dental provider offers both “standard” and “high” plan options. Standard plans have lower monthly premiums (usually half of the high option) but higher co-pays. As a rule, the standard plan is probably best if you and/or your family have good oral health, but a high plan may be best if you and/or your family have poor oral health or orthodonture needs. The major difference between standard and high vision plans is the yearly frame/lens allowance.
Plan premium rates are based on where you live.
Some notable changes to next year’s plans:
- Seven of the 12 dental carriers added coverage for the use of nitrous oxide when medically necessary.
- Two of the five vision carriers increased the frame allowance dollar amount.
Even if you are satisfied with your current plan, it never hurts to conduct a yearly comparison FEDVIP plans. The BENEFEDS Plan Comparison Tool will soon have both 2023 and 2024 pricing available for comparison.
The 2024 TRICARE and FEDVIP open season begins Nov. 13, 2023, and concludes Dec. 11 at midnight. Changes to your dental and vision coverage take effect Jan 1, 2024.
[RELATED: MOAAInsurance.com]
MOAA strongly recommends comparing next year’s pricing with this year’s premium to ensure you are satisfied with your dental and/or vision plan. If you take no action during the open season, you will be automatically “rolled over” to the same plan with new pricing next year.
Get more FEDVIP information at BENEFEDS.com or on the OPM website.
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