Best Medicare Plans for Veterans

Best Medicare for veterans

Veterans often have government-funded health insurance options through the VA or TRICARE. Having Medicare in addition to those coverages can provide additional benefits, including access to more doctors and hospitals.

Best Medicare Advantage plan for veterans

The Humana Honor with Rx plan combines the different Medicare parts into one policy and is the best Medicare Advantage plan for veterans. It gives you the flexibility to choose between VA and civilian health care providers and has a $0 monthly premium. Additionally, the plan can help you save on the cost of your Medicare Part B coverage.

The plan includes $15 copays for in-network doctors and $45 copays for specialists, although you'll pay half of the total cost if you go out of the plan's network.

Preferred generic drugs, also called Tier 1 drugs, have a $0 copay. Generic drugs, called Tier 2, only cost $5. You'll pay the full price for brand name or specialty drugs until you reach the $350 drug deductible. After you reach the deductible, you'll pay a copay or coinsurance on all drugs until you reach $4,660, at which point you'll pay 25% of your drug costs until you hit $7,400.

You'll also have access to annual vision, dental and hearing care (although you may pay for more involved services), SilverSneakers and a meal delivery service. The Honor with Rx plan also includes robust mental health benefits, which can be important for veterans. The plan includes coverage for inpatient mental health care, as well as group and individual outpatient therapy.

However, what you pay for your health care with the Honor with Rx plan can be high. While the $400 annual deductible is low, the total in-network out-of-pocket maximum is $6,550 per year. If you use in-network and out-of-network doctors, the maximum is $7,990.

Best Medicare Supplement plan for veterans

AARP/UnitedHealthcare offers a Medicare Supplement Plan G with benefits that make it a good choice for veterans. Plan G is the best Medicare Supplement plan due to its robust coverage. AARP/UnitedHealthcare's Plan G + Wellness Benefits is a good choice to keep your health care expenses low.

Medigap Plan G covers the costs for skilled nursing facilities and Medicare Part A hospice care, which can be important insurance for veterans as they age. On average, a Plan G from AARP/UnitedHealthcare costs $135 per month.

AARP/UnitedHealthcare takes the coverage further by adding the Wellness Benefits package. You'll get the same Part G coverage as well as discounts on vision, dental and hearing care. The plan includes coverage for a gym membership, too.

Best Medicare Part D prescription drug coverage for veterans

Aetna offers the best Part D drug coverage for veterans because of its low rates. Aetna's plans have a Medicare star rating of 3.5 out of 5, which is higher than many other Part D plan ratings and indicates satisfied customers. If you choose to buy Original Medicare rather than a Medicare Advantage plan with drug coverage, you may want to buy a separate Part D policy to get coverage for medications.

Aetna offers three Part D options: SilverScript SmartSaver, SilverScript Choice and SilverScript Plus. These plans offer different coverage levels, copays and deductibles.

However, Aetna's SilverScript Part D drug plans use CVS pharmacies, which have the lowest rating in J.D. Power's Pharmacy Study.

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VA benefits vs. Original Medicare

The VA encourages veterans to apply for Medicare coverage when they first become eligible to avoid late enrollment penalties. Having both VA and Medicare coverage has benefits.

However, the VA does not coordinate benefits with Medicare. You'll have to decide which coverage to use when you get care. Your VA benefits can only be used at VA facilities. Original Medicare is widely accepted at non-VA health care offices, but it doesn't hurt to confirm before you go to a doctor.

You'll also be responsible for paying monthly Medicare premiums, which will vary based on the type of coverage you choose. In 2023, most people pay $164.90 per month for Medicare Part B, and the fee is typically deducted from Social Security benefits. If you buy a Medicare Advantage, Medicare Supplement or Medicare Part D policy, you'll also pay the monthly premium for that plan.

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TRICARE for Life and Medicare

TRICARE is a health care program for certain military personnel and their families. There are several coverage types available, but TRICARE for Life is coverage that works with Medicare Parts A and B.

If you have Medicare Parts A and B and are also eligible for TRICARE, you're automatically enrolled in TRICARE for Life. Unlike Medicare and VA benefits, which work separately, TRICARE for Life works with your Medicare benefits. If you need health care, your provider will file a claim with Medicare. For any costs that Medicare doesn't pay, a claim will be filed with TRICARE for Life.

Typically, you won't have any costs for services that are covered by both TRICARE for Life and Medicare. For retired and inactive service members within the United States, Medicare will usually pay first and TRICARE for Life will pay the rest. If you're out of the country, where Medicare coverage isn't valid, TRICARE becomes your primary coverage. You'll then be responsible for paying the TRICARE deductible, as well as any copays and coinsurance amounts.

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Frequently asked questions