Tricare Rates Are Changing in 2020

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We are officially in the back half of 2019, and that means some people are already looking ahead toward next year. One group that’s already announced their 2020 plans: Tricare.

Tricare recently released some of their 2020 rates, including the new rates for the Tricare Reserve Select (TRS), Tricare Retired Reserve (TRR), Tricare Young Adult, and Continued Health Care Benefit health programs. For all three of these groups, rates will be rising in the new year. One lucky group will see smaller premiums in 2020, though.


Tricare Reserve Select

Reservists enrolled in the TRS program will see the smallest increases amongst those affected by the new Tricare rates. Single coverage under the TRS program will increase by $1.34 per month, up from $42.83/month to $44.17/month. Family coverage will increase, too, from $218.01/month to $228.27/month. That adds up to more than $120 extra dollars a year for family coverage.


Tricare Young Adult

Just like the reservists, young adults enrolled in the Tricare Young Adult program will have to pay higher premiums in 2020. Currently, those enjoying coverage under the Tricare Young Adult Select option pay $214 per month. Next year, they’ll pay $228 per month. That’s a yearly difference of $168! Tricare Youg Adult Prime users will see an even greater increase, though. An $18 jump will put their monthly premiums at $376 for 2020. That means they’ll be paying a couple of hundred dollars more for their health care next year than they did this year.


Continued Health Care Benefit Program

We saved the largest premium increase for last. The CHCBP premium increases make the TRS and TYA increases look like chump change. Single coverage plans will cost over $33 more next year, up from $484.33 in 2019 to $517.67 in 2020. Family coverage premiums will see increases more than two times that! Prepare to pay an additional $75.67 on top of the $1,091 premium you’re already paying if you have family coverage under the CHCBP. Next year’s monthly bill will be $1,166.67.


Tricare Retired Reserve

Finally some good news. Not everybody will have to pay more for their Tricare plan next year. Retired reservists under the age of 60 that are enrolled in the Tricare Retired Reserve program will actually have lower premiums next year. Monthly premiums for single retirees will drop from $451.51 per month to $444.37 per month. Those with family coverage will see their rates drop from 1,083.40 per month to $1,066.26.


While Tricare rates may be rising in 2020, these premiums are still much much lower than what most civilians pay for health care. Don’t believe us? Just check out these stats from the National Conference of State Legislatures. According to their data, the average premium for single coverage in 2018 was $575, and for family coverage, it was $1,634. Even with these increases, MilFams are enjoying premiums much cheaper than that.


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