TRICARE is a comprehensive health insurance plan offered to military personnel and their families. It provides access to a range of healthcare options, including doctor visits, hospital stays, and prescription drugs. However, TRICARE doesn't cover all medical expenses, and military personnel may still face out-of-pocket costs. To help reduce these costs, many opt for TRICARE supplemental insurance plans. In this article, we'll compare TRICARE military insurance plans and supplemental plans to help you make an informed decision.
TRICARE Military Insurance Plans
TRICARE offers several insurance plans for military personnel and their families, including:
- TRICARE Prime - a managed care plan that offers low out-of-pocket costs to beneficiaries who use network providers. It's available to active-duty service members, retirees, and their families.
- TRICARE Select - a fee-for-service plan that allows beneficiaries to see any provider they choose. It's available to active-duty service members, retirees, and their families.
- TRICARE for Life - a plan that provides Medicare-eligible beneficiaries with comprehensive coverage, including prescription drugs. It's available to retired service members and their families.
- TRICARE Retired Reserve – a premium based plan that provides additional coverage around the world to qualified Select Reserve members and their families.
- TRICARE Reserve Select – a plan for members of the Selected Reserve and their families who are not on active duty orders, not covered under the Transitional Assistance Management Program and not eligible for or enrolled in the Federal Employees Health Benefits (FEHB) program
TRICARE Supplemental Insurance Plans
TRICARE supplemental insurance plans are designed to help reduce out-of-pocket costs that aren't covered by TRICARE. These plans are offered by private insurance companies and work alongside TRICARE insurance plans. Some of the most popular TRICARE supplemental insurance plans include:
- TRICARE Supplement Plan - a plan that covers the deductible and cost-sharing requirements of TRICARE Prime or TRICARE Select plans.
- CHAMPVA Supplemental Insurance - a plan that covers the cost-sharing requirements of CHAMPVA, a health insurance program for veterans and their families.
Comparing TRICARE Military Insurance Plans and Supplemental Plans
TRICARE military insurance plans and supplemental plans differ in terms of coverage and cost. While TRICARE military insurance plans offer comprehensive coverage, they may still leave beneficiaries with out-of-pocket costs. Supplemental plans can help reduce these costs, but they come at an additional cost. Here are some key points to consider when comparing TRICARE military insurance plans and supplemental plans:
- Coverage - TRICARE military insurance plans offer comprehensive coverage for a range of healthcare services. Supplemental plans offer additional coverage for out-of-pocket costs that aren't covered by TRICARE.
- Cost - TRICARE military insurance plans have low premiums and deductibles, but may still leave beneficiaries with out-of-pocket costs. Supplemental plans have higher premiums but can help reduce these costs.
- Network - TRICARE military insurance plans have a network of providers that beneficiaries must use to receive the lowest out-of-pocket costs. Supplemental plans may allow beneficiaries to see any provider they choose.
TRICARE military insurance plans and supplemental plans each have their benefits and drawbacks. Military personnel and their families should carefully consider their healthcare needs and financial situation before deciding which plan is right for them. While TRICARE military insurance plans offer comprehensive coverage, supplemental plans can help reduce out-of-pocket costs. Ultimately, the best choice will depend on individual circumstances and preferences.