Medicare@work
A blog about Medicare. What you and your employees need to know
Honor -TRICARE for Life- A Military Thank You
Author: Lora Drummond
Medicare Transition Specialist
Posted: 05/31/2021
22- 52 Solution Series -Honor- TRICARE for Life- A Military Thank You
Veterans, we thank you for your service!
Did you know when it comes to medical benefits to support veterans in retirement, they can easily combine the benefits the military gives them with Medicare if they logged 20 years or more of active service?
When retiring from active service and turning 65, TRICARE For Life is an automatic health benefit that supports veterans with no premium for coverage and no deductible when already enrolled in Medicare. TRICARE For Life compliments Medicare (like a Medicare supplement). The two agencies work together to coordinate their medical benefits.
How cool is that?
There are no enrollment fees, but retirees must pay Medicare Part B monthly premiums, and the Part B premium is based on their income. The prescription benefit is included in TRICARE For Life, so they don’t need to add a Medicare Part D plan. Spouses of retired service members who qualify are also eligible for TRICARE for Life benefits.
Retired service members interested in learning more about how this benefit works with Medicare can attend a free 123Easy Medicare workshop or meet with a Certified Medicare Planner® for guidance.
As always we want to help your employees understand the benefits they are entitled to when planning their retirement.
If Medicare feels a bit confusing, we get it!
That’s why we are here to help make Medicare@Work easier! An employee can find greater confidence about when to enroll in Medicare by consulting with a Medicare expert like a Certified Medicare Planner®. …And whether they should wait and keep their employer group plan also. Every situation is different.
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Your Medicare Transition Partner
– Lora
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