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4
POST-RETIREMENT HEALTH BENEFIT PROGRAMS
Employees of the Postal
Service who participate in the Federal Employees Health Benefits Program
(FEHBP) for at least the five years immediately before their retirement
may participate in the FEHBP during their retirement. Under the FEHBP,
we pay a portion of the health insurance premiums of participating retirees
and their survivors. This program is administered by the Office of Personnel
Management.
The Omnibus Budget
Reconciliation Act of 1990 requires us to pay the employer's share of
health insurance premiums for all employees, and their survivors, who
participate in the FEHBP and who retire on or after July 1, 1971. However,
we do not include the costs attributable to Federal civilian service before
that date. Our FEHBP costs amounted to $858 million in 2001, $744 million
in 2000, and $593 million in 1999. We include these costs in our compensation
and benefits expense.
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