How to Choose Health Insurance After Military Retirement

Choosing between a civilian health insurance plan and Tricare is a personal decision for each individual to make. Military retirees automatically receive health benefits through Tricare, the military's health plan. Many retired military service members use this benefit, but some find that navigating through Tricare is difficult. Consider a few things before ruling out a particular type of insurance. Read on to learn how to choose health insurance after military retirement.

Instructions

Difficulty: Moderately Easy

1. Consider your location. Are you near a military treatment facility? Is the facility one in which you have confidence? If you are staying near a military instillation and are happy with the treatment you have received, Tricare is probably a good option for you. If you are far from a military treatment facility and there are no Tricare providers, civilian health insurance may be a better option.
2. Learn about the variety of options Tricare has available. Tricare Standard and Tricare Extra are no cost options available to retirees. Tricare Prime costs less than $500 for a family, which is relatively inexpensive health coverage. Each option has benefits and limitations. Do your research.
3. Find out what type of insurance your doctors and healthcare providers will accept. Some providers are not familiar with Tricare and will not file the claims for you. You will be expected to pay up front and file the claims yourself.
4. If you will be employed, will your new employer provide health insurance to you? If you are covered under your employer’s health plan, you can still use Tricare as a secondary insurance. It will pick up most all deductible and co-pay costs. This option is a great financial savings.
5. Do you have a particular health issue? If you have health difficulties and don’t have group health coverage through a civilian source, Tricare will still cover you. No applications or waivers for certain diagnoses.
6. Making a decision on which form of health coverage to use is a personal one. After considering your situation, it will probably be clear which form of insurance is best for you.

Tips & Warnings

• Speak to other retirees about how they have handled health coverage to learn the easiest way to navigate through the system.
• Make sure you understand differences between Tricare Standard and Tricare Prime prior to making a decision, it could cost you a great deal if you don't.