NewsBytes October 7, 2022
In this issue:
Shrinking TRICARE Pharmacy Network
Troops and Veterans Can Get More Life Insurance
Happy Birthday Navy
FRA NHQ Closed on Columbus Day
TRICARE Pharmacy Network Shrinking
The Defense Health Agency (DHA) has announced that beginning Oct. 24, 2022, thousands of community pharmacies will leave the TRICARE network. Express Scripts Inc. (ESI) is the TRICARE pharmacy contractor with oversight of home delivery, military pharmacy and civilian contract facilities. Walmart and Sam’s Club pharmacies are among those leaving the network. It is recommended that beneficiaries contact their pharmacy to see if it will remain in network. DHA estimates that almost 400,000 beneficiaries, or roughly 4 percent of the TRICARE-eligible beneficiaries, will be impacted by the change.
Impacted beneficiaries will receive a letter from ESI with a list of alternative in-network pharmacies. Walgreens, Rite Aid, and CVS will remain in the network as will many grocery store pharmacies and smaller chains. Network pharmacies also can be found using this online search tool. DHA notes that beneficiaries can file a claim for a partial reimbursement for the cost of their medication when filling at a non-network pharmacy. For more information, go online .
Troops and Veterans Can Get More Life Insurance Soon
The House recently passed the “Supporting Families of the Fallen Act” (S.2794), which will allow service members and veterans to increase their maximum life insurance coverage by $100,000. Earlier, the bill sponsored by Sen. Tommy Tuberville (Ala.) passed the Senate unanimously. The FRA-supported bill will go to President Joe Biden’s desk and is expected to be signed into law. The legislation will boost maximum coverage for both the Servicemembers’ Group Life Insurance plan and the Veterans’ Group Life Insurance plan for the first time since 2005. Both programs are administered by the Department of Veterans Affairs and, while neither is free, they offer service members and veterans a low-cost option for life insurance.
Service members and veterans who choose the new $500,000 coverage will pay about $6 more per month for their premium than under the $400,000 plan. The $400,000 coverage is $25 per month for service members and ranges anywhere from $28 per month for veterans 29 years or younger to $1,800 per month for veterans 80 years or older. In an interview with Military.com, Tuberville said, “An increase in coverage is particularly important now as inflation drives up the cost of living.”
The Servicemembers' Group Life Insurance automatically enrolls qualified troops, including all active-duty military, and certain members of the Reserve Component. Troops can choose to decline the coverage. The Defense Department reimburses the premium when a service member is in a combat zone.
Happy Birthday Navy/FRA NHQ Closed on Columbus Day
The U.S. Navy will celebrate its (247th) birthday next Wednesday (Oct. 13, 2022), remembering the evolution from humble beginnings to the most powerful and sophisticated sea power in the world. The U.S. Navy traces its origins to the Continental Navy, established by the Continental Congress on Oct. 13, 1775, to fight in America’s war for independence. The Continental Navy numbered some 50 ships throughout the course of the war. The Constitution of the United States ratified in 1789, empowered Congress “to provide and maintain a navy.”
In observance of Columbus Day, the FRA national headquarters will be closed Monday, Oct. 10, 2022.
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