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FEB PREMIUM CONVERSION Information Notice premium conversion plan for most enrolled in the Federal Employees Health Benefits (FEB) Program will be effective with the pay period beginning October 8,
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FEHB premium conversion is a benefit option offered to federal employees that allows them to pay their health insurance premiums with pre-tax dollars, reducing their overall taxable income.
All eligible federal employees who wish to take advantage of the FEHB premium conversion benefit are required to file for it.
To fill out FEHB premium conversion, federal employees need to complete the necessary forms provided by their employing agency or human resources department. These forms typically require basic information, such as employee details and insurance plan selections.
The purpose of FEHB premium conversion is to provide federal employees with a tax advantage by allowing them to pay their health insurance premiums with pre-tax dollars, thereby reducing their taxable income.
The FEHB premium conversion requires reporting of basic employee information, such as name, employee identification number, and insurance plan selections. It may also require the reporting of the amount of premiums paid with pre-tax dollars.
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