Federal Employee Disability Insurance Act of 2010 - Requires the Director of the Office of Personnel Management (OPM) to establish and administer a program to make available insurance coverage for an injury occurring outside the workplace or for other disability otherwise not covered under federal employee worker's compensation provisions. Makes such insurance unavailable if the injury is caused by the employee's intention to bring about the injury to himself or to another individual. Requires an insurance contract under this provision to be fully insured.
Requires the Director to contract with one or more carriers for such disability insurance policies. Authorizes the Director to prescribe reasonable minimum standards for benefit plans offered. Prohibits such a contract from providing for a preexisting condition exclusion.
Allows an eligible employee to receive: (1) during the first 12 months that he or she qualifies, benefits equal to the lesser of 70% of his or her monthly pay at the time the injury or sickness occurs or 70% of the maximum rate of basic pay provided for grade GS-15 of the general schedule, beginning after expiration of the waiting period elected by the employee; and (2) after such 12-month period, benefits equal to 50% of monthly pay until age 67, only if such employee is totally disabled.
Requires each eligible individual obtaining insurance coverage under this Act to be responsible for 100% of the premiums, which shall be higher for employees who elect a shorter waiting period.
Establishes in the Employees' Life Insurance Fund a Non-Work Related Disability Insurance Administrative Account, which shall be available to OPM to defray reasonable expenses incurred in administering this Act and to which contracted carriers shall make contributions necessary to cover such expenses.