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So, for each withholding, you will purchase a bond. See below for telephone contacts and office locations. These bonds increase in value each month and interest is compounded semi-annually. You may change the plan in which you are enrolled or from high to low option coverage during the annual Open Season for electing coverage. We suggest you carefully check the names and social security numbers you enter for each transaction. You can reduce your premiums by reducing your coverage. You may change the amount withheld whenever you think it is necessary.
When you make a change, we will mail you confirmation of the change. Bonds earn interest for 30 years, but are not indexed to inflation.
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