[December 2015 update: Congress fixed this issue as part of the 2015 National Defense Authorization Act.] [March 2016 update (yeah, 15 months later!): DFAS has just opened SBP registration to these retirees.] Military Times is reporting the story that the Defense Finance and Accounting System didn't want to announce. DFAS has made military … [Read more...] about Survivor Benefit Plan Wants Permission To Do The Right Thing
Insurance
Why I Won’t Buy Long-Term Care Insurance
Note: My Dad passed away on 18 November 2017 from end-stage Alzheimer's. This post is about my experiences with his insurance during the years 2011-2014. There are hundreds of posts on the pros and cons of long-term care insurance, but most of them approach the question from a financial perspective. Today we're going to look at other aspects of … [Read more...] about Why I Won’t Buy Long-Term Care Insurance
“Do I Really Need Servicemembers Group Life Insurance?”
A reader asks about the post how much life insurance is necessary: I just thought of a follow-up question to this article because it really got me thinking about getting rid of our SGLI coverage. What kind of benefits will a spouse or family receive if an active duty member dies? I found this report about survivor benefits: It states that the … [Read more...] about “Do I Really Need Servicemembers Group Life Insurance?”
Is Tricare Standard good enough?
A reader asks: I did five years of active duty and over 15 years in the Reserves. I just turned 60 years old and am now getting a military pension. My question is regarding Tricare. I just retired from my civilian employer and they do not offer any health insurance. I plan on using Tricare Standard for my only health insurance. Is Tricare … [Read more...] about Is Tricare Standard good enough?
How Much Life Insurance Do You Need?
A reader writes: Hey Nords! Hope all is well. Update: I got denied for TERA and promptly got an assignment (my first choice) 24 hours later, so I can't complain too much. Question for you if you don’t mind. I’ve got SGLI and a $100K policy on my wife as well. I’ve generally steered clear of life insurance. What’s your opinion on the topic? … [Read more...] about How Much Life Insurance Do You Need?
How To Get Kicked Out Of Tricare
I've carried a military ID card since 1978. I'm financially independent. You would expect that I'd understand my benefits by now, but a few months ago I was nearly dis-enrolled from Tricare for not paying my premiums. To make matters even worse, I managed to thoroughly screw up our college daughter's Tricare benefits. I'll explain how this … [Read more...] about How To Get Kicked Out Of Tricare
No More Military Retirement or Tricare Prime?!?
It's that time of year again: Congress is debating the annual federal budget proposals. My e-mail and social media have exploded with outraged commentary on the proposals to overhaul the military retirement system and to get rid of Tricare Prime. How does that affect your retirement? How does that affect your family's healthcare?!? Well, it … [Read more...] about No More Military Retirement or Tricare Prime?!?
Tricare or MTF: Will The Army Pay For Tattoo Removal?
Question: I have a total of 5 tattoos that fall below my right elbow. My Commander determined that my tattoos are not in compliance with AR 670-1, 3-3c(2). I've been counseled, and I understand that I've been grandfathered (which I'm extremely grateful for). Prior to the release of the new policy, I was preparing to apply to Office Candidate … [Read more...] about Tricare or MTF: Will The Army Pay For Tattoo Removal?
Career Assistance Program – AAFMAA Offers $4000 Loan
Is the Army Air Force Mutual Aid Association (AAFMAA), Career Assistance Program Loan (CAP) worth it? I’m going to have to say YES! Back in the day as a young Staff Sergeant I needed some extra cash during a tough financial period. I was introduced to AAFMAA by a fellow Soldier. He informed me that AAFMAA offered an extremely low-interest-rate … [Read more...] about Career Assistance Program – AAFMAA Offers $4000 Loan
Medical Tourism at Bangkok’s Bumrungrad Hospital
The two biggest obstacles to financial independence are inflation and healthcare -- yet military veterans and retirees seem to have more options for dealing with inflation. The Patient Protection and Affordable Care Act gives the American medical system a strong incentive to reduce expenses. The military Tricare system is also struggling to … [Read more...] about Medical Tourism at Bangkok’s Bumrungrad Hospital
