NDAA 2023 Survivor Benefit Plan Open Season

  • Published
  • By 23rd Wing Public Affairs
  • 23rd Wing Public Affairs
- Retirees: Open Season enrollment is available for members who are not currently participating in SBP as of 22 December 2022 and disenrollment is available for members who were participating in SBP on or before 22 December 2022 and no longer wish to participate.

Below are the Defense Finance And Accounting Service (DFAS) SBP Open Season enrollment steps:

• STEP 1. Complete and submit the Letter of Intent (LOI) to enroll

• STEP 2. DFAS will calculate the monthly premium costs and the one-time "buy-in premium," based on the information provided in the LOI and send the estimate to the member. However, the final enrollment costs, both monthly premium and buy-in premium may change if there is a time gap between when the member receives the estimate and submission of the final enrollment form. Costs may also change if there are changes and/or correction to the information initially provided by the member

• STEP 3. After considering the costs, if the member decides to enroll, they must complete and submit the enrollment form which will be provided by DFAS. The enrollment form will include the following three options for the buy-in premium payments:

a) Pay the lump sum
b) Pay in 12 equal monthly installments
c) Pay by combining options a and b; ex. if the buy-in is $30,000 and the member pays a sum of $15,000 upfront, then the remaining $15,000 will be repaid in 12 monthly installments

• STEP 4. DFAS will confirm the member’s enrollment, including the final costs, and provide instructions on how to submit payment. There is a 30 day window from the date the member signs the enrollment form to cancel coverage –however, the cancellation must be in writing and received within the 30 days to be honored.

For further information on SBP Open Season go to the website at https://www.dfas.mil/sbpopenseason23. If you have any questions, please contact the Moody AFB Casualty office at 229-257-3265.