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Does premium
conversion affect when I can make changes to my enrollment?
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Yes, but only slightly. FEHB enrollment changes may
only be made outside of the Open Season under certain circumstances. Under premium conversion, the opportunity
to reduce or cancel your enrollment may be limited by the Internal Revenue
Code. You will be allowed to drop
coverage or change to Self Only outside of Open Season only if your decision
to do so comes at the time of a qualifying life event (QLE). These changes from current FEHB are minor, and the tax savings of
premium conversion are significant.
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