Veteran Affairs Vs. Private Insurance
After you serve in the military, you can take advantage of health benefits that are provided to veterans. You you also have the option of buying private insurance. While both of these products have similar features, they differ in a few key areas, which could be important when determining your coverage needs.-
Cost
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Perhaps the most prominent difference between private insurance and reinsurance protection that is offered by the Department of Veterans Affairs is the cost. If you are eligible for insurance from the VA, you will not have to pay any monthly premiums. A means test is given to determine if you even have to pay a co-pay when you obtain medical service. By comparison, with private insurance, you have to pay a monthly premium, a deductible and co-pays, in most cases.
Facilities
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Another difference between private insurance and the healthcare that is provided by the VA is the medical facilities that you can use. With a regular health insurance policy, you can typically obtain care from a network of medical providers. In some cases, the network is very large and includes most medical facilities. With the VA insurance, you must obtain care at a military treatment facility.
Benefits
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The benefits that you can receive from your insurance coverage also can vary with these two types of coverage. With VA health insurance, you can get comprehensive coverage that includes immunizations, physical exams, emergency treatments, surgeries, chiropractic care and other treatments. With regular health insurance, many of these items are not included or they require you to pay out of your own pocket.
Considerations
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If you are eligible for VA benefits, it often makes financial sense to use the medical treatment facilities in your area whenever possible. However, depending on where you live, it might make sense to carry your own private health insurance as well. This way, you can be sure to obtain treatment regardless of where you are located. If you are not near a military medical facility, it may be hard to get treatment. Private insurance can also help pay for co-pays, if you are required to pay them as part of your VA insurance.
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