Medicare B vs. Veteran Affairs

As an American citizen or permanent resident, if you or your spouse work, you are entitled to receive public retirement and health insurance benefits when you reach retirement age. If you are also a U.S. veteran, you are entitled to various benefits the government provides to its service members who have returned home under honorable discharge. However, these two benefits are not mutually exclusive; sometimes you are required to add one to keep the other.

Medicare Identification

• Medicare is the federal government health insurance for senior citizens and people who have a long-term disability. This program provides benefits with funds accumulated from Medicare tax that every worker in the United States pays. Medicare is divided into four parts: hospital insurance or Part A; medical insurance or Part B; private insurance additional to Part A and Part B, known as Part C; and prescription drug coverage, which is Part D. If you pay Medicare tax, you are entitled to Part A benefits for free. You can choose to add the other types of Medicare coverage for a fee or just stay with Part A benefits.

Department of Veterans Affairs

• The Department of Veterans Affairs is the federal government organization that provides benefits to veterans. Veterans can access the online website of this department, which provides information for veterans, access to benefits, application forms and news relating to government decisions and military organizations. Among the benefits provided by this department are pension, disability, retirement, health insurance and education, which also includes benefits for the veteran's family members.

Medicare Part B and VA Benefits

• Medicare Part B is medical insurance through the Medicare program. To receive this coverage, you must be willing to pay a monthly premium associated with the benefits you receive. It is your prerogative whether to keep or drop Medicare Part B. However, if you are receiving benefits from the VA health insurance program known as TRICARE, once you reach Medicare eligibility age (65) and you start receiving your Medicare Part A free benefits, you are required to keep your Part B coverage as well. If you do not keep your Medicare Part B coverage, you may lose your TRICARE coverage.

TRICARE and Part B

• You or your family members who have TRICARE based on your military service are not required to add Medicare Part B while you are still serving. You and your family members are only required to do so once you reach retirement age, leave active service and start receiving Part A coverage. To keep your TRICARE coverage, it is important that you sign up for Part B several months before you retire to ensure that you have no breaks in coverage. If you have group insurance and you do not add Part B until your insurance ends, even if you have already retired, you are allowed to keep your TRICARE coverage until you add Part B.