Personal Finance for Military, Veterans, and their Families
The military provides servicemembers with either military housing or a housing allowance, referred to as Basic Allowance for Housing, or BAH. Standard BAH rates are based on the servicemember’s geographic duty location, pay grade, and dependency status (With Dependents or Without Dependents). The government assesses the rent and utility costs for over 300 different Military Housing Areas […]
The military Exchange program offers tax-free shopping and discounts on goods and services. Every branch of the military offers its own exchange system – an Airforce Base Exchange (BX), an Army Post Exchange (PX), Marine Corps Exchange (MCX), Coast Guard Exchange (CGX), and the Navy has the NEX. All operate separately, but if you’re eligible […]
Commissaries are the military equivalent of neighborhood grocery stores located on military installations around the world. These stores sell food and household items almost at cost. Compared to off-installation shopping, you can save a significant amount of money by making the most of your commissary benefits. Stateside (or CONUS) commissaries (and some OCONUS locations) offer […]
Military OneSource (MOS) offers you immediate information, support, and answers to common questions. As our military community continues to grow and evolve, so too do our needs. Military OneSource was launched to help assuage some of the typical challenges of being part of our community – and some of the lesser-known difficulties as well. All […]
Did you know that August 7 is Purple Heart Day? To date, almost two million servicemembers have earned a Purple Heart. However, most people don’t realize there’s a day dedicated to honoring and commemorating the servicemembers who have been wounded or killed in service to the United States, Purple Heart Recipients. The award is vital […]
If you’re a reservist or guardsman in search of an affordable and comprehensive health care offering, then Tricare Reserve Select may be the best plan for you and your family. Established by the 2005 National Defense Authorization Act, Tricare Reserve Select aims to offer a military-sponsored health insurance option to members of the Selected Reserve […]
Having access to affordable health care is among the top concerns for retirees, and there have been several approaches over the years to ensure coverage for older Americans who “age out” of other Tricare plans. For Medicare-eligible Tricare beneficiaries, retirees, and their family members, Tricare for Life may be the best available option that balances […]
Tricare Select is the military-sponsored health plan that best suits those who prefer to manage their own care and are willing to pay a bit more for added flexibility and freedom of choice. If choosing your own care providers is an important feature, Tricare Select (including Select Overseas, Reserve Select, and Young Adult Select) might […]
When faced with the ever-expanding and often complex menu of military healthcare options, it’s often difficult to determine which plan is best for you and your family. Under the banner of Tricare — which is the health care program for U.S. uniformed servicemembers, retirees, and their families – there are various options to choose from […]
If you feel like you’re unable to keep up with the frequent changes to military benefits – especially the GI Bill – you’re not alone. Modifications to eligibility requirements, military housing allowances, transfer policies, and time-in-service sometimes make education benefits for veterans seem incomprehensible, unattainable, or just plain confusing. However, recently enacted changes to the GI […]