June 23, 2024

Fed Workers Face Hike in Health Insurance Premiums

Federal employees will pay 8.7% more, on average, toward their 2023 health premiums. The stark hike reflects the COVID-19 pandemic timeline: a drop in use of elective benefits resulted in a lower average increase over the past four years. As elective benefit use increases, so do premiums. The cost of prescription drug prices also contributed to the increase.