CLEVELAND, OH December, 11, 2023 - Congress provided for a Survivor Benefit Plan Open Season in the 2023 National Defense Authorization Act (NDAA).
The SBP Open Season began on December 23, 2022 and ends at midnight Eastern Standard Time on January 1, 2024.
*****************
IMPORTANT UPCOMING DEADLINES
January 1, 2024 – Open Season Deadline
Open Season Enrollment and Discontinuance Forms must be RECEIVED by DFAS before midnight Eastern Standard Time on January 1, 2024. We strongly recommend you upload your form via our askDFAS online upload tool to ensure it is received prior to the deadline. See details in the Enrolling in SBP Coverage or Discontinuing SBP Coverage sections below.
Our final postal mail delivery before the deadline is on Friday, December 29, 2023. If you are mailing a form, we recommend you use mail service with proof of mail date. If we receive your form in the mail after the January 1, 2024 deadline, you will need to provide proof it was postmarked or otherwise provided to the mail service prior to midnight on January 1, 2024.
You can also fax your form prior to the deadline.
Individual Estimate Requests No Longer Accepted
We are UNABLE to provide individual estimates for requests received after November 13, 2023.
Also, estimate letters for requests we received after November 1, 2023 may not reach you via postal mail in time for you to consider the cost and enroll prior to the enrollment deadline on January 1, 2024.
You Can Enroll Without an Estimate
Enrollment is not contingent upon getting an estimate. YOU CAN ENROLL WITHOUT GETTING AN INDIVIDUAL ESTIMATE. If you decide to enroll, submit an SBP Open Season Enrollment Form. See Enrolling in SBP Coverage, Step 1, below.
If you decide to enroll and submit an enrollment form, after we process your enrollment we will mail you an enrollment confirmation letter that includes the amount of your Buy-In Premium and your monthly premiums.
Examples of SBP Open Season Buy-In Premiums
The SBP Open Season Buy-In Premium examples may assist you in making an enrollment decision without obtaining an individual estimate.Check Out The Example Buy-In Premiums.
SBP Open Season: Enrolling in SBP Coverage
The SBP Open Season allows for retirees receiving retired pay, eligible members, or former members awaiting retired pay who were NOT participating in SBP or RCSBP (Reserve Component Survivor Benefit Plan) as of December 22, 2022 to enroll. For a member who enrolls during the SBP Open Season, the law generally requires that the member will be responsible to pay retroactive SBP premium costs that would have been paid if the member had enrolled at retirement (or enrolled at another earlier date, depending on the member’s family circumstances).
Open Season Enrollment Forms must be RECEIVED by DFAS before midnight Eastern Standard Time on January 1, 2024. We strongly recommend you upload your form via our askDFAS online upload tool to ensure it is received prior to the deadline. See “To Upload Your Enrollment Form” below. Our final postal mail delivery before the deadline is on Friday, December 29, 2023. If you are mailing a form, we recommend you use mail service with proof of mail date. If we receive your form in the mail after the January 1, 2024 deadline, you will need to provide proof it was postmarked or otherwise provided to the mail service prior to midnight on January 1, 2024.
For a member already receiving retired pay: Upon enrollment you will be legally responsible and obligated to pay a “buy-in premium.” The buy-in premium is comprised of (a) amounts you would have been required to pay you had enrolled in SBP at an earlier opportunity plus (b) additional open season costs. Check out our Example Buy-In Premiums here.
To protect a retiree from making a legal commitment to payment of an undetermined amount for the buy-in premium (which may be thousands of dollars) we originally set up a four-step process that includes a request for an estimate prior to officially enrolling and making that legal commitment.
However, enrollment is not contingent upon getting an estimate. A retiree can enroll without an estimate by submitting an official SBP Open Season Enrollment Form, including your choice for how to pay the buy-in premium. Keep in mind that unless we receive a written request, including signature and date, to cancel your enrollment within 30 days of the date of your signature on the enrollment form, you will be legally obligated to pay the buy-in premium and monthly premiums.
The SBP Open Season Buy-In Premium examples may assist you in making an enrollment decision without obtaining an individual estimate.Click here for the Example Buy-In Premiums.
For more information, please visit: https://www.dfas.mil/RetiredMilitary/provide/sbp/SBP-Open-Season-NDAA2023/