TRICARE For Those Under 65
Katy Votava, President of Goodcare explains TRICARE for people under the age of 65.
Key Takeaways
- Start plan evaluation by listing your healthcare providers, medications, and family health needs, then check if TriCare covers them well before exploring alternatives—TriCare is often the most cost-effective if your providers are in-network
- TriCare has multiple tiers: in-network providers cost less, but out-of-network coverage is available at higher deductibles; if you need many out-of-network providers, an ACA plan may be more cost-effective depending on your location
- During annual enrollment (Nov 1–Jan 15 for ACA), you can switch between TriCare, ACA plans, and employer coverage without pre-existing condition exclusions, as long as you maintain continuous coverage with no gaps over 60 days
- Use the Kaiser Family Foundation ACA calculator (down to zip code level) to estimate subsidies and premium tax credits you'd qualify for before deciding to switch from TriCare
- Contact TriCare directly at their 800 number and website first for help, then visit healthcare.gov or call their 800 number if evaluating ACA plans—both have navigators available to walk you through options
TRICARE For Those Under 65: Tricare is a health insurance program for active duty and retired military personnel, their families, and survivors. The program is administered by the Defense Health Agency (DHA) and is available to eligible beneficiaries worldwide. Tricare offers several different plan options, including Tricare Prime, Tricare Select, and Tricare For Life. Each plan has different benefits, costs, and eligibility requirements, and beneficiaries can choose the plan that best meets their needs. Tricare also offers additional coverage options, such as prescription drug coverage and dental coverage. The Tricare program is designed to complement the military's direct medical care system, and it is intended to ensure that eligible beneficiaries have access to high-quality health care services. In this finStream TV video, Katy Votava, President of Goodcare explains TRICARE for people under the age of 65. To learn more about Tricare, check out https://www.tricare.mil/. To see more finStream personal finance videos and subscribe to finStream's free personal finance eNewsletter, please visit: https://www.finstream.tv/subscribe-to-our-newsletter/
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