As a Lockheed Martin employee, you have access to the group health insurance plan. If you have elected to participate in the group plan, then your Lockheed health insurance is your primary/first insurance to pay your claims. If you are under age 65 and carry Tricare insurance, then Tricare is your secondary/second insurance to pay the remainder of your claims. Once you turn 65 and while you’re still working, the health insurance landscape changes as you come to the Tricare for Life and Medicare bridge. This is where Tricare coverage ends and Tricare for Life begins; however, Tricare for Life is dependent on you being enrolled in Medicare Part B. Therefore, there are a few ways to cross this bridge when you have both group coverage and Tricare, so it’s extremely important to examine your situation to see which steps forward are best for you and your family.
Option 1 – Keep your group coverage and delay Medicare/Tricare for Life enrollment until retirement, meaning you are solely relying on your group plan to pay all health-related costs as your pre-65 Tricare coverage ends.
Option 2 – Keep your group coverage and enroll in Medicare Part B, which automatically enrolls you into Tricare for Life.
Option 3 – Drop your group coverage and enroll in Medicare Part B, which automatically enrolls you into Tricare for Life.
Once you have selected the option that works best for you, then your steps are clear. Next, you need to understand hierarchy in which the insurance carriers pay your claims. Let’s examine them under the same options as above.
Option 1 – Group coverage only. This is pretty simple. Your group health insurance is the only payor other than you paying your co-pays and coinsurance.
Option 2 – Group coverage, Medicare Part B and Tricare for Life. Your group health insurance pays first, then Medicare pays up to its limit, then Tricare for Life typically pays the remainder.
Option 3 – Medicare Part B and Tricare for Life. Medicare pays first, then Tricare pays second.