Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Joining the reserves for the health insurance?
Old 01-19-2011, 12:42 PM   #1
Recycles dryer sheets
leftbucket's Avatar
 
Join Date: Aug 2008
Posts: 79
Joining the reserves for the health insurance?

Greetings.

34 year old Firefighter/ Medic in the DC area. DW and
I have 2 kiddos, a 3 yo son and a 6 month old daughter.

So... I'll be eligible to collect a pension in 5 or 6 more years around
the age of 40. Projected to be around 3k/month.
I recognize that this is a great benefit.

House is essentially paid off, DW and I have north of
500k saved up. Even got a throw down job working 1 or 2
days a month to deal with all the pension envy folks or act as an
early retirement question avoider. All ready to "retire"
at 40. BUT...

PROBLEM: like many on this board, health coverage
is a big issue. Both DW and our daughter have semi-serious
long-term conditions that will likely necessitate years of
"Cadillac"-like insurance. There are no retiree health
benefits with my pension, either. Current family costs
to continue insurance are 1600/mo and I can easily
see insurance plan costs overtaking the 3k/mo pension payout
within the next 6-10 years.

Thus, I am considering joining the reserves. I would not
join solely for the health insurance, but I must say that it
is a large factor in my decision making.

Questions, especially for recent military folks.

How good is Tricare/reserve?

Would you guess that the military would continue to offer
health insurance to active reservists for the long term future?

I would hope to be able to stay as an active reservist until
age 60 and then get the military retiree insurance for my family.

I plan to go to seminary anyway and I am considering joining
as a chaplain candidate. If anyone has any serious advice
on which branch of the service... Army/Navy/Air Force would
be best I am all ears. I am actually running into an age limit
issue also, so I will have to decide soon.

Thanks in advance,
LB
__________________

__________________
leftbucket is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-19-2011, 01:21 PM   #2
Recycles dryer sheets
 
Join Date: Oct 2009
Posts: 85
"Would you guess that the military would continue to offer
health insurance to active reservists for the long term future?"


I retired after 20 years in the Army Reserve. You will not get any health benefits at all until you get 20 years in, retire, and reach age 60.
__________________

__________________
rdjrn is offline   Reply With Quote
Old 01-19-2011, 01:50 PM   #3
Recycles dryer sheets
leftbucket's Avatar
 
Join Date: Aug 2008
Posts: 79
Perhaps I am mistaken, but do you read this the same way?

TRICARE Reserve Select

For ~200/mo a ready reservist can now cover oneself and family
with Tricare Reserve select.

Thanks,

LB

P.S. I believe this is valid because I have reservist coworkers who
have investigated, but none of them actually have it to know how
good it is. (they still have insurance through their primary employer)
__________________
leftbucket is offline   Reply With Quote
Old 01-19-2011, 01:57 PM   #4
Recycles dryer sheets
 
Join Date: Oct 2009
Posts: 85
I retired in 1995 so my knowlege (or lack of) is based on that time period. Lots of things have changed since then, so you may be correct in your thinking. Heck,.. I was told recently by a co-worker that since I have 2 years of active duty, I can start drawing retirement pay at 58 instead of 60. I don't know if this is correct or not, but I'm sure gonna check on it!!
__________________
rdjrn is offline   Reply With Quote
Old 01-20-2011, 10:06 PM   #5
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by leftbucket View Post
Questions, especially for recent military folks.
How good is Tricare/reserve?
I've never had any other kind of health insurance, so it's hard to answer your question other than with a question: "Compared to what?"

Tricare works pretty well, but reimbursement rates are low and under the perpetual threat of going lower. (DoD also wants to raise premiums.) You might not be able to find a doctor in your area that takes Tricare, especially if you need specialists for your spouse/daughter's conditions. OTOH the strength of the program depends on its contract providers and how well your primary-care manager works with local doctors. Compared to your current health insurance, Tricare might seem like a great deal.

Here's a couple link-filled articles to start your research on the subject:
Reserves and National Guard: Tricare Reserve Select and Tricare Retired Reserve health insurance | Military Retirement & Financial Independence
Proposed Tricare fee hikes | Military Retirement & Financial Independence

Quote:
Originally Posted by leftbucket View Post
Would you guess that the military would continue to offer health insurance to active reservists for the long term future?
Yes, but it's subject to review every year and the premiums may keep rising. So although it would technically be "offered", it might not be as good a deal as going with some other form of civilian insurance.

Quote:
Originally Posted by leftbucket View Post
I would hope to be able to stay as an active reservist until age 60 and then get the military retiree insurance for my family.
If by "active" you mean "drilling Reservist" or "Selected Reserve" then you'd be using Tricare Reserve Select (and paying for it). If you're mobilized for more than 29 days then everyone would jump from TRS to regular ol' Tricare (much cheaper/free). When you "retire awaiting pay" (retired but not yet age 60) then you'd revert to Tricare Retired Reserve (and start paying for it again). When you turned age 60 then you'd finally be getting Tricare for retirees (paying for it, but paying a lot less). However when you turn age 65 you'd go onto Tricare for Life, with is second payer to Medicare.

Simple enough, eh?

Quote:
Originally Posted by leftbucket View Post
I plan to go to seminary anyway and I am considering joining as a chaplain candidate.
I am actually running into an age limit issue also, so I will have to decide soon.
You haven't really addressed an issue that I think would be much more of a concern than insuring your family's health: getting shot at. No matter what part of the military you join, you're likely to spend a year in the desert providing "target services" of one kind or another. I don't know how your spouse/daughter would feel about the risks you're taking to insure them... or the guilt they'd feel if something happened. Sure, you can put a price on health insurance-- but are you willing to bet your life for it?

As a chaplain you'd be even more likely to deploy. However even if you join now, you're doing so as the military begins another huge drawdown. I don't know if the military is taking chaplains before they've finished seminary and served a few years on their own. You may be standing in line behind a bunch of more experienced candidates-- I don't know.

The age limits are also affected by the needs of the services. I know a woman who just joined the Army National Guard at the age of 40. I know a Navy Reserve ensign who was commissioned a couple years ago at age 39 (after nearly 15 years of enlisted active/Reserve duty.) I know that waivers are plentiful where there are gapped billets, and chaplains are probably a much easier waiver than infantry or pilot billets.

Your best bet is to go talk to a recruiter now, even if you're not planning to join until later. When you get told "the rules", politely but firmly ask to see the regulations in writing. It may be an instruction or a message or just a letter, but there's something in writing for every policy. If you have more questions about what you're told, we have over 60 veterans on this board alone who can help sort them out.

Here are some more link-heavy posts:
Reserves and National Guard | Military Retirement & Financial Independence
Mobilizing with the Reserves and National Guard | Military Retirement & Financial Independence

Quote:
Originally Posted by leftbucket View Post
If anyone has any serious advice
on which branch of the service... Army/Navy/Air Force would
be best I am all ears.
One perspective would be "You're gonna end up in Afghanistan no matter what service you join, so it doesn't matter".

Another perspective, the one that I usually advise, would be to join the Navy because you get more choices-- you can crawl in the mud with the Marines instead of with the Army, bask in luxurious comfort* aboard an aircraft carrier with the naval aviators instead of at an Air Force base, or rotate among sea/shore duty with other ships & shore commands. You can even get ride time on a submarine for a few days a month to qualify for submarine duty pay.

If you're planning to do an entire career in the Reserves/National Guard, then figure out which service offers the most billets/work in your area. That way you won't have to travel two or three time zones for every drill weekend. For example, the Navy has so many Reservists in San Diego that some naval officers have joined the Coast Guard when they left active duty for the Reserves.

[*This is sarcasm, unless you're in the Army or the Marine Corps...]
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 01-21-2011, 01:44 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Jul 2004
Posts: 1,072
As a drilling Reservist, I would say that the healthcare is fine, but when off-duty, you will pay for it - as Nords said, the rates are comparable to what you would pay in the private sector.

As you live in DC, your options for specialized care are much higher than if you lived in a more rural area. Walter Reed is in the DC area and considered one of the flagships of military medical care.

As for chaplains - the rumors I've heard is they don't have enough of certain types to meet the needs - HOWEVER, you will be deploying - the need is in those areas where the military person is most stressed. Based on the commercials and new posts I've seen over here in Germany, going downrange with the troops is the goal of most of the chaplaincy - as well as dealing with the aftermath upon coming home.

I am partial to the Air Force, but that's because I am in the Air Force Reserves. In the Air Force, the Chaplaincy is in a different grouping category for promotion purposes - and may also use different rules for participation, training, etc. I would ask your recruiter as well as find a Reserve chaplain to speak with regarding the nuances. I'll be honest, the Reserve system can be very complicated compared to the active system and being able to understand both and not overburden the active duty with the Reserve idiosyncrasies can be important.

I am very glad I decided to go Reserve after being active - I have had opportunities, training and experiences I never would have had without it. It has complemented my civilian career well - and the ability to have a pension at age 60 has greatly enhanced my early retirement plans.

Good luck in your aspirations.
__________________
Deserat aka Bridget
“We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm.” - George Orwell/Winston Churchill
deserat is offline   Reply With Quote
Old 01-23-2011, 09:02 AM   #7
Full time employment: Posting here.
friar1610's Avatar
 
Join Date: Jun 2002
Posts: 820
Quote:
Originally Posted by Nords View Post
As a chaplain you'd be even more likely to deploy. However even if you join now, you're doing so as the military begins another huge drawdown. I don't know if the military is taking chaplains before they've finished seminary and served a few years on their own. You may be standing in line behind a bunch of more experienced candidates-- I don't know.
I don't know if the Navy still does this. I had a friend in the Navy who left active duty as a line officer and went into the seminary. He was in a program where he was a reservist in the chaplain corps during his seminary years. (He was "demoted" from Lieutenant to Ensign when he made the change.) He would go on active duty during vacations and work in various jobs under full-fledged chaplains. When he finished the seminary, he went on active duty as a LTJG. In his particular case, he remained on active duty for a career and retired as a Captain.
__________________
friar1610
friar1610 is offline   Reply With Quote
Old 01-25-2011, 06:51 AM   #8
Thinks s/he gets paid by the post
Bimmerbill's Avatar
 
Join Date: Jan 2006
Posts: 1,631
I'm retired Army National Guard and not age 60, so a gray area retiree.

Chaplains are in short supply so you will see frequent mobilizations. You may want to consider this since you have younger kids. There is a real and pressing need for their service tho.

They just published the Tricare Reserve Select costs but I have to visit the local ID card office to create an account to log on first.
__________________
Bimmerbill is offline   Reply With Quote
Old 01-25-2011, 08:58 AM   #9
Thinks s/he gets paid by the post
martyb's Avatar
 
Join Date: Nov 2006
Location: Bossier City
Posts: 2,182


I'm also a gray area retired reservist, but not using Tricare. I'm a federal employee on FEHB. When I reach age 60, I'm going to suspend my FEHB & go on the Tricare that's appropriate for me at that time, which right now is much cheaper than my FEHB coverage. I'll ride that train till 65, then go to Medicare. Here's what I found on the net for current Tricare Reserve Select costs:

TRICARE Reserve Select



TRICARE Reserve Select (TRS) is a premium-based health plan available worldwide to Selected Reserve members of the Ready Reserve (and their families) who are not eligible for or enrolled in the Federal Employee Health Benefits (FEHB) program (as defined in Chapter 89 of Title 5 U.S.C) or currently covered under FEHB, either under their own eligibility or through a family member.
Plan Overview
You may visit any TRICARE-authorized provider, network or non-network. Care at military treatment facilities is on a space-available basis only. You do not need a referral for any type of care but some services may require prior authorization. The type of provider you see determines how much you'll pay out-of-pocket. If you're visiting a network provider, you'll pay less out of pocket and the provider will file claims for you.
Monthly Premiums
TRS premium rates are established annually on an calendar year basis. You are required to pay the monthly premiums if you decide to enroll in TRS. The 2011 monthly premiums are:
  • TRS Member-Only coverage: $53.16 per month.
  • TRS Member-and-Family coverage: $197.76 per month.
Purchasing TRICARE Reserve Select
Purchasing TRS is a two-step process, Qualify and Purchase, and you must complete the process online.
Step 1: Qualify
Step 2: Purchase
You may purchase the plan at any time throughout the year, there are no tiers or open seasons. Mail or fax your completed Reserve Component Health Coverage Request Form (DD Form 2896-1) along with the first month's premium payment to your regional contractor within the specified deadline.
Out-of-Pocket Costs
After you've met an annual deductible, you're responsible to pay a cost-share (or percentage). Here's a quick snapshot of TRICARE Reserve Select costs:
Type of Provider
Outpatient Cost Share
Inpatient Cost Share
Network Providers
15% of the negotiated rate
$16.85 per day ($25 minimum charge)
Non-Network Providers
20% of the TRICARE allowable charge
$16.85 per day ($25 minimum charge)

Download the Summary of Beneficiary Costs Flyer for more specific details. Click here to learn more about the TRICARE Allowable Charge.
Is TRICARE Reserve Select Right for You?
TRICARE Reserve Select is a great option for you and your family if you are:
  • a member of the Selected Reserves of the Ready Reserve,
  • not on active duty orders or covered by the Transitional Assistance Management Program, and
  • not eligible for or enrolled in the FEHB,
The plan provides comprehensive health care coverage when you're not activated and covered by active duty TRICARE benefits. And, because you can see any provider, you don't have to change providers if you already have one. For more information, download a copy of the TRICARE Reserve Select Flyer.
Need help with the DMDC Reserve Component Purchased TRICARE Application?

For technical assistance or to report system problems with the site, please call the DMDC Support Center at 1-800-477-8227.

Questions about eligibility?

If you have questions regarding your eligibility, please contact your National Guard or Reserve Point of Contact.

Last Modified:January 4, 2011
__________________
“Change is the law of life. And those who look only to the past or present are certain to miss the future.”
-John F. Kennedy

“Hard work never killed anybody, but why take a chance?” - Edgar Bergen
martyb is offline   Reply With Quote
Old 01-25-2011, 09:50 AM   #10
Confused about dryer sheets
 
Join Date: Mar 2010
Posts: 4
I was in a similar position to you when I joined the reserves. I already had a career in law enforcement, but I had that "itch" to do something more. I didn't join for the health care, but as a result have enjoyed using them. The benefits and the doors, professionally, that have opened up for me as a result have been great.

I too take advantage of the Health Care, and being currently mobilized, I have not had to pay for any health care related costs for my family or myself. When I de-mob, I will use Tricare Reserve Select because the cost is half of what my civilian employer's is and the coverage is much better.

There are other benefits to joining the reserves that you may not be thinking of:

GI BILL benefits - if you deploy for a cumulative total of 36 months, you get 100% of the benefits, you can transfer your benefits to kids/spouse.

Commissary/Exchange Privileges (sometimes less expensive than retail/grocery stores)

However the most important benefit is the pride of putting on a uniform that so many have sacrificed for and serving our country in a very unstable time. You can't put a price tag on that.
__________________
K9Dan is offline   Reply With Quote
Old 01-25-2011, 11:28 AM   #11
Thinks s/he gets paid by the post
martyb's Avatar
 
Join Date: Nov 2006
Location: Bossier City
Posts: 2,182
I wouldn't trade my time in the active military or reserves for anything. It's nice to be retired, though! Now all I have to do is make it till 60 (7 more years) & that check will be in the bank every month. I agree with the sense of pride, K9Dan.
__________________
“Change is the law of life. And those who look only to the past or present are certain to miss the future.”
-John F. Kennedy

“Hard work never killed anybody, but why take a chance?” - Edgar Bergen
martyb is offline   Reply With Quote
Old 01-25-2011, 04:58 PM   #12
Thinks s/he gets paid by the post
Fireup2020's Avatar
 
Join Date: Feb 2007
Posts: 1,186
Quote:
Originally Posted by Nords View Post
I don't know if the military is taking chaplains before they've finished seminary and served a few years on their own.
(Yep, Navy is - Chaplain Candidacy Program)

You can also enlist now - get your timeclock clicking along, go to seminary after retirement from this job (no drilling while in seminary) - get commissioned as a Chaplain, and finish up your 20 as an officer.

Quote:
Originally Posted by Nords View Post
I know a Navy Reserve ensign who was commissioned a couple years ago at age 39
(Nords, if this is me, I had 21 enlisted years active/reserve - just want to make sure your sea stories are up to date!!)

I think this is a great decision for you - since you are in the DC area, be advised your current area is rich with Tricare providers as many here have stated. Reserve medical & other benefits have drastically improved over the years (even during my career). I am currently a Navy Officer Recruiters (Non-medical/Dental Active & Reserve) in NJ - feel free to PM me with additional questions. Good luck!
__________________
Make no mistake, my friend, it takes more than money to make men rich. - A. P. Gouthey
Fireup2020 is offline   Reply With Quote
Old 01-25-2011, 11:38 PM   #13
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by Fireup2020 View Post
(Nords, if this is me, I had 21 enlisted years active/reserve - just want to make sure your sea stories are up to date!!)
Um... I never knew that, and frankly I wouldn't have guessed that you had anywhere near that many years of service!

... but in this case I'm referring to Doug Maguire. I know his age because he and spouse worked together for several years in the PACOM DET 121 Reserve unit, and he asked her to administer the oath at his commissioning ceremony.

And he's now sitting in Kandahar for the next 10 months or so processing logistics requisitions for his new Army buddies... it'll be interesting to see whether he chooses to demob back to his civil-service job or whether, like you, he's having too much fun to go back to drill weekends. I think he's planning to stick with it until age 60 or until they tell him to go home, whichever happens first.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
tri care
Old 01-26-2011, 08:24 PM   #14
Dryer sheet wannabe
 
Join Date: Jan 2011
Location: Columbia, SC
Posts: 24
tri care

I wouldn't be retired today if not for tricare. At age 60, the minute you get your "retired ID" card you have tricare standard right then. It has no cost. Standard has a $150 deductible per year Oct-Oct per person but not on meds, only on doctor and hospital. Unless you have a condition that requires a lot of hospitalization I think tricare standard might be better than tricare prime. Prime has a $450? (may have changed) cost per year.
On meds with tricare standard the out of pocket costs are: $22 or $9 or $3 (generics) All mine are $3 except one. If you don't want to pay anything for meds you can get them all at no charge from a military pharmacy. The retirement pay is nice but the tricare is where the extreme value is.
__________________
donothing is offline   Reply With Quote
Old 01-26-2011, 10:25 PM   #15
Recycles dryer sheets
beowulf's Avatar
 
Join Date: Oct 2007
Posts: 466
leftbucket- I would not recommend joing the Reserves for any other reason than the fact that you want to be a soldier/airman/sailor or marine and be of service to the USA. It's a significant investment in time, training and a near certainty that you will end up being deployed to a combat zone. Unless you are willing to make a many year commitment to such service, it's simply not worth it for health insurance that will not be cheap (unless you decide to stay on active duty).

I went in at 21, stayed on AD for 6 years and then another 17 in the reserves. I did it because I wanted to be a soldier and serve my country and then wanted to remain affiliated after my initial term was up. I wasn't really thinking about long term benefits at the time, though I did know about them. I do receive reserve retirement and also TRICARE Standard. I was a civil servant after AD, so it supplements my FEHB in a small way.

I would never trade my years of service for anything, but it's not for everyone. I know it's probably not what you want to do, but, if affordable health insurance is critical to you, you might want to wait and see what happens with our pending universal healthcare. You have several years left until you plan to retire and many things can change during that time.

Best of luck.
__________________
Mission accomplished - not necessarily ER, but certainly R.
beowulf is offline   Reply With Quote
Old 01-28-2011, 09:10 PM   #16
Recycles dryer sheets
leftbucket's Avatar
 
Join Date: Aug 2008
Posts: 79
Thanks to everyone for the frank advice.
It really does help to hear other's personal experiences.

The chaplain candidate program does seem like a good opportunity,
is something I very much want to do, and most importantly, the
Mrs. gave me the green light-- so I plan to pursue it.

Thanks again,
LB

P.S. I'm leaning towards the Air Force... I'm already tired enough of eating cold food
from a civilian job...
__________________
leftbucket is offline   Reply With Quote
Old 01-28-2011, 11:50 PM   #17
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by leftbucket View Post
P.S. I'm leaning towards the Air Force... I'm already tired enough of eating cold food from a civilian job...
There's a legendary e-mail floating around the Internet that purports to be advice from a Navy pilot to a high-school student who's trying to decide between the U.S. Naval Academy and the U.S. Air Force Academy. I'm pretty sure that all my shipmates have already sent multiple copies to the board's USAF members, so there's no need to rub it in.

However the letter ends with "If you gotta ask... then good luck and enjoy the Air Force"...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 01-30-2011, 12:21 PM   #18
Thinks s/he gets paid by the post
Bimmerbill's Avatar
 
Join Date: Jan 2006
Posts: 1,631
I'm under FEHB now too, but never considered not carrying my health insurance into retirement.

I have a ways to go, but will have to take a look at the costs when I turn 60 in 2026.
__________________
Bimmerbill is offline   Reply With Quote
Old 01-31-2011, 09:02 AM   #19
Thinks s/he gets paid by the post
 
Join Date: Jul 2004
Posts: 1,072
Quote:
Originally Posted by Nords View Post
There's a legendary e-mail floating around the Internet that purports to be advice from a Navy pilot to a high-school student who's trying to decide between the U.S. Naval Academy and the U.S. Air Force Academy. I'm pretty sure that all my shipmates have already sent multiple copies to the board's USAF members, so there's no need to rub it in.

However the letter ends with "If you gotta ask... then good luck and enjoy the Air Force"...
Whenever I go for my Reserve duty at EUCOM, I marvel at the differences in the services. I work in any office with Air Force, Navy, Army - active and reserve, GS, contractor......I'm constantly asking what they mean with their acronyms - also, it is odd to compare the standard experiences across the services. While deployment is more of a reality across the services now, that wasn't really an AF experience unless you were a flyer of some sort. For the Navy, it was the way things were - 6 months out, 6 months in - constantly. The Army also has their approach. Let alone the different acronyms and personnel management systems - and incentives, etc. It gets really dicey when you have joint mechanisms like Space or Cyber.....normalization of the nomenclature becomes so important to be effective.

However, and perhaps this is my Air Force bias showing thorugh, I've found the Navy to be the more complex of all the services - in their acronyms, personnel management, uniforms, etc. Heck, just understanding the different uniform combinations for the Navy would take me 30 minutes in the morning to figure out what to wear!!!!

So, yeah, enjoy the Air Force :-)
__________________
Deserat aka Bridget
“We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm.” - George Orwell/Winston Churchill
deserat is offline   Reply With Quote
Old 01-31-2011, 09:54 AM   #20
Thinks s/he gets paid by the post
martyb's Avatar
 
Join Date: Nov 2006
Location: Bossier City
Posts: 2,182
Quote:
Originally Posted by Bimmerbill View Post
I'm under FEHB now too, but never considered not carrying my health insurance into retirement.

I have a ways to go, but will have to take a look at the costs when I turn 60 in 2026.

The biggest thing is to make sure you don't cancel your FEHBP, only SUSPEND it. It's an option that's available to you because you're eligible to be covered under Tricare. If everything's the same when I'm eligible at age 60, then to me it's a no-brainer, cost-wise. From 60 to 65, I'll be on Tricare, either standard or Prime, most likely Prime. As long as you've only suspended FEHB, you can go back to it at any time if Tricare isn't working for you. I'll be retired in an area that's highly military concentrated, so lots of Tricare providers. You might want to just read up on the FEHB suspension details. I've studied pretty closely & don't see a down-side.
__________________

__________________
“Change is the law of life. And those who look only to the past or present are certain to miss the future.”
-John F. Kennedy

“Hard work never killed anybody, but why take a chance?” - Edgar Bergen
martyb is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Joining the Marine Corps Nords Other topics 16 01-27-2011 11:55 AM
Insurance Industry Fast-Track Proposal to reduce Reserves chinaco FIRE and Money 15 01-05-2009 09:06 AM
considering Military Reserves Keyboard Ninja Other topics 10 10-27-2008 04:27 PM
health history for health insurance vic Health and Early Retirement 22 10-26-2006 10:07 AM
health insurance and effect on increased health care costs Martha Other topics 9 08-08-2006 02:54 PM

 

 
All times are GMT -6. The time now is 10:41 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.