HSA Guide
Tricare Select with Flex HSA: Understanding Your Healthcare Options
Published May 11, 2024
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Get the appOverview of Tricare Select and Flex HSA
Tricare Select with Flex HSA offers a unique approach to managing your healthcare expenses and coverage. This combination provides you with the benefits of a comprehensive healthcare plan along with the flexibility and tax advantages of a Health Savings Account (HSA).
Tricare Select is a popular health insurance option for military members and their families, offering a wide range of coverage including preventive care, hospital stays, prescription drugs, and more. When you add a Flex HSA to your Tricare Select plan, you can enjoy additional benefits and savings.
How Tricare Select and Flex HSA work
Here are some key points to understand about Tricare Select with Flex HSA:
- Tricare Select provides comprehensive coverage for a variety of medical services and treatments.
- A Flex HSA allows you to set aside pre-tax dollars to pay for qualified medical expenses.
- Contributions to your Flex HSA can be made by you, your employer, or both.
- Money in your Flex HSA rolls over from year to year, so you can build up savings for future healthcare costs.
- You can use funds from your Flex HSA to pay for eligible expenses not covered by Tricare Select.
Benefits for peace of mind and control
Choosing Tricare Select with Flex HSA gives you the peace of mind knowing that you have access to quality healthcare while also taking advantage of tax benefits and savings opportunities.
With Tricare Select and the added benefit of a Flex HSA, you gain more control over your healthcare finances, which is especially advantageous for military families navigating diverse medical needs.