FedPoint Convenes BENEFEDS Marketplace Stakeholders to Discuss Program Updates, Plans for 2024 Open Season

Alexandria, VA (October 11, 2024)—Federal marketplace operator FedPoint^® recently convened stakeholders across the federal benefits landscape at its 18th annual BENEFEDS Marketplace meeting in Alexandria, VA on Thursday, September 26, 2024. Participants discussed updates to the Federal Employees Dental and Vision Insurance Program (FEDVIP), sponsored by the U.S. Office of Personnel Management (OPM).

"The BENEFEDS marketplace meetings create a collaborative environment to understand enrollees' evolving needs, and OPM's strategies to enhance the value of dental and vision benefits for the more than nine million participants on the platform. It's always our pleasure to host this meeting of folks committed to the best interests of the federal family," said FedPoint CEO Kevin Hill.

Representatives from FEDVIP's 12 dental and five vision insurance carriers had the opportunity to hear from key OPM Insurance leaders, dental health experts from around the country, agency benefits officers who advocate for employees across the federal government, and the BENEFEDS administrator, FedPoint. BENEFEDS is the benefits marketplace for eligible civilian workforce and uniformed service members to shop, enroll, and pay for voluntary benefits, including dental and vision plans under FEDVIP.

Topics included new educational content being planned for the BENEFEDS.gov website about the correlation between dental and vision care with overall health, as well as technology enhancements designed to improve enrollee experience in preparation for the upcoming 2024 Federal Benefits Open Season. Of significant note, attendees learned of OPM’s approach to accelerate coverage transparency with its new dental shopping tool developed to assist enrollees in understanding out-of-pocket costs for procedures before they choose a carrier.

"FEDVIP's growth over the years is a testament to the advantages of the marketplace structure for all stakeholders," said Ken McCarthy, FedPoint's head of account management. "Enrollees can choose from a wide array of insurance plans, and carriers are motivated to keep improving their offering—through price, plan features, and provider networks—in order to attract and retain enrollees. The upshot is that the enrollees get optimal choice and quality at a fair price, under the umbrella of one-stop shopping."

The meeting concluded with a keynote address by renowned futurist and technology innovation expert Jonathan Brill, who shared his perspective on the importance of planning for the uncertainties and impacts driven by AI.