For purposes of this website, we're defining your Federal Benefits as the options you have for health care coverage, for life insurance, and retirement. The FEHB program is the basic federal health insurance plan for the government's civilian employees. It is the largest employer-sponsored health insurance program in the world, covering more than 9 million federal employees, retirees, and their survivors and dependents. The cost of this benefit is shared by enrollees and the government, with the government contributing the bulk of the premium cost.
Employees pay their share through payroll deductions and retirees through annuity deductions.
Read more detailed information on the Premium Conversion program . The government negotiates the low group rates and pays one-third of the cost of Basic life insurance. If you are eligible for life insurance coverage, it's important to note that you are automatically enrolled in Basic coverage unless you waive it . You will be enrolled in Optional coverage only if you elect it. After salary, retirement benefits are the most valuable part of the compensation package earned by federal employees during their careers.