You may elect Option B insurance in an amount equal to one, two, three, four or five times your
annual basic pay (after rounding up to the next even $1,000).
The cost of Option B insurance depends on your age. When you have a birthday that moves you to another
age group, you will begin paying the premiums for the new age group in the first pay period that starts
after your birthday. The premiums increase depending on your age group, as shown in the following
table:
The Option B premiums for ages 65 and over will be increasing in January 2004 and January 2005.
The January 2004 increases are reflected in the table below.
Link to the scheduled premium increases.
| Age Group |
Biweekly withholding ($)
per $1,000 of insurance |
Monthly withholding ($) per $1,000 of insurance |
| Under age 35 |
0.03 |
0.065 |
| Age 35 through 39 |
0.04 |
0.087 |
| Age 40 through 44 |
0.06 |
0.130 |
| Age 45 through 49 |
0.09 |
0.195 |
| Age 50 through 54 |
0.14 |
0.303 |
| Age 55 through 59 |
0.28 |
0.607 |
| Age 60 through 64 |
0.60 |
1.300 |
| Age 65 through 69 |
0.71 |
1.538 |
| Age 70 through 74 |
1.03 |
2.232 |
| Age 75 through 79 |
1.43 |
3.098 |
| Age 80 and Over |
1.83 |
3.965 |
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Introduction to the FEGLI Program
