General Information
OPTION B Additional
You may elect Option B-Additional in an amount equal to one, two, three, four or five times your annual rate of basic pay (after rounding up to the next even $1,000).
HOW MUCH DOES OPTION B COST?*
| |
WITHHOLDING FOR EACH $1,000 INSURANCE |
| |
2004 |
2005 |
| Your Age Group** |
Biweekly |
Monthly |
Biweekly |
Monthly |
| Under 35 |
$0.03 |
$0.065 |
$0.03 |
$0.065 |
| 35 - 39 |
0.04 |
0.087 |
0.04 |
0.087 |
| 40 - 44 |
0.06 |
0.130 |
0.06 |
0.130 |
| 45 - 49 |
0.09 |
0.195 |
0.09 |
0.195 |
| 50 - 54 |
0.14 |
0.303 |
0.14 |
0.303 |
| 55 - 59 |
0.28 |
0.607 |
0.28 |
0.607 |
| 60 - 64 |
0.60 |
1.300 |
0.60 |
1.300 |
| 65 - 69 |
0.71 |
1.538 |
0.72 |
1.560 |
| 70 - 74 |
1.03 |
2.232 |
1.20 |
2.600 |
| 75 - 79 |
1.43 |
3.098 |
1.80 |
3.900 |
| 80 and over |
1.83 |
3.965 |
2.40 |
5.200 |
* These are the rates through 2005. They may change in future years. For more information, see the FEGLI website at www.opm.gov/insure/life.
** For insurance withholding purposes, we assume you reach these ages on the first day of the pay period that starts after your birthday.
Consider this example
Bob, a 38-year-old Federal employee, is married with three children. He wants to get the maximum amount of Option B he can. He chooses five times his annual pay of $39,500 (rounded to $40,000), which totals $200,000. He is paid on a biweekly basis. Therefore, his cost is $8.00 biweekly ($0.04 x 200). Refer to the worksheet on page 25 
[76.4 KB] for more information, or see the FEGLI Calculator at www.opm.gov/insure/life.