In addition to the programs discussed in the previous slides, the government also provides several other veteran and military benefits you may be interested in. These include specialized healthcare services for both veterans and current military members, as well as free job training, valuable retirement benefits and more.
VA Health Care
The VA healthcare system provides health care services for military veterans. Some spouses, surviving spouses, dependent children and caregivers may also qualify for VA health benefits.
VA health care costs will depend on the veteran. Some may have to pay copays, but others may be exempt from copays if they have a qualifying service-connected disability, have a low income or meet another special eligibility requirement. Similarly, the health services you can receive through VA health insurance will depend on personal factors, including your priority group and any health conditions you have.
TRICARE for Military
Tricare is a health insurance program for service members and their families, National Guard / Reserve members and their families, survivors and a few other groups.
The health care benefits you can get through Tricare insurance will depend on which eligibility group you belong to. Additionally, you may be able to choose among different TRICARE plans, including TRICARE for Life, TRICARE Reserve Select and other plans.
The Home Improvements and Structural Alterations (HISA) grant is available to veterans and service members who need to modify their home to accommodate a disability. Eligible home improvements for veterans using a HISA grant include, but are not limited to:
- Improving entrance or exit ways in the home.
- Enhancing a bathroom for medical needs.
- Providing access to counters and sinks in the kitchen or bathroom.
- Altering plumbing or electrical systems to accommodate home medical equipment.
Veterans can receive up to $6,800 in HISA benefits. Those who have a condition that is not service-connected can receive up to $2,000.
There are several job training and employment programs available to veterans and current service members. Using resources available online through the Veteran and Military Transition Center, for example, you can find information on educational programs, licensing, updated certifications and other opportunities to make yourself more marketable.
The platform will also help you figure out how the skills you have developed during your service may be useful in the workplace. Additionally, veterans also have access to career counseling that can help them learn about topics like starting their own business or finding gainful employment if they have a disability.
There are two different retirement options available for members of the U.S. military. These are the Blended Retirement System (BRS) and the High-3 system, which is only available for those who began service before 2018.
The BRS participates in the Thrift Savings Plan (TSP), which is an investment program open to military members. Under the BRS, the government matches your retirement contributions. The BRS also provides a lifetime annuity to anyone who served for at least 20 years.
Like the BRS, the High-3 military retirement offers a lifetime annuity to those who have served for at least 20 years. However, it does not offer TSP matching.
The best thing about these retirement plans is that you can receive funds from them while also receiving Social Security benefits.