Preserving the buying power of a pension

[deserat]

As a military retiree, I never used Tricare Prime in my pre-Medicare days because I didn’t want to deal with an HMO-type plan. I used Tricare Standard with a supplement from MOAA. Once I became Medicare-eligible I used it plus the free Tricare for Life (TFL) as the supplement. I have been completely satisfied. I have had virtually no out-of-pocket expenses except for the co-pays on the TFL drug plan (but that coverage is included in TFL).

@friar1610- which MOAA supplement do you use and what is the cost?

 

[braumeister]

@friar1610- which MOAA supplement do you use and what is the cost?

FWIW, I used their Mediplus Tricare Supplement for many years before Medicare kicked in and I was very happy with it.

MOAA Insurance

You can see the rates here:

https://www.moaainsurance.com/health-insurance/tricare-supplement/mediplus-tricare-supplement.html

 

[deserat]

"At your current age (Reservist in retired awaiting pay status) you could use Tricare Retired Reserve insurance up to age 60. The premiums aren’t subsidized by DoD so it might be more expensive than FEHB."

Tricare retired reserve is about $500/mo with a $3000 deductible. At age 60, when you are eligible for your military pension, that cost drops like a rock (although Tricare has been shifting retiree healthcare costs to the retiree over time-with the transition to DHA and significant curtailing of retiree access to military medical facilities- eventually military retirees (and possibly dependents) will probably only have the Tricare insurance and civilian healthcare services available with no access to military medical facilities).

I have looked at other options-COBRA is expensive as well as insurance on the market. Tricare retired reserve is actually the lowest I could find for the gray area retiree who doesn't have coverage through an employer.

 

[militaryman]

Thanks, sounding promising for after 60 when I qualify for the low cost Tricare options. Right now as a Federal employee I use Fehb of course and will also from 57-60 as a Federal retiree and then, if still an option, I'll suspend Fehb and pickup the Tricare @ 60 when I qualify as a Guard retiree. In today's dollars that would be saving me +$300/mo! If I feel unsure at 60 I might choose a low premium Fehb plan to carry along with the tricare until 65 when I'd be able to double up Medicare and tricare.