Last Updated on September 24, 2018 by Corinne Schmitt
This post was sponsored by the MetLife TRICARE Dental Program as part of an Ambassador Program for Influence Central.
Though life as a military family is full of many challenges, one thing I have been grateful for is our medical and dental coverage. After talking to my non-military friends, I know these expenses often take a big chunk of most family’s budgets and as a result, is often a source of stress. I’m glad that I don’t have that added stress on top of the stress of frequent moves, deployments, and my husband’s often dangerous work environment.
Even though we have affordable insurance available to us, I review our policies and premiums each year when I revisit our family budget as part of my annual get organized effort. Even small changes can add up over the year, so I like to make any necessary adjustments as early as possible. I think that everyone should perform an annual financial check-up to make sure they aren’t wasting money.
Information for Military Families
For my fellow military families, you may or may not be aware that MetLife TRICARE Dental Program (TDP) premiums are increasing slightly on February 1, 2016. The amount of the increases varies depending on sponsor’s military status and the type of dental plan (i.e. sponsor only, single, family, or sponsor and family). You can see the current and new rates in the chart below.
If you’re not a military family, it’s a good idea to check with your insurance provider for any changes to your premiums. If your premiums ARE increasing substantially, it might be a good idea to shop around.
If you are a military family but are NOT currently enrolled in MetLife TDP, it’s easy to enroll.
Choose from one of the following enrollment options:
1. Online visit www.tricare.mil/bwe
2. Call 1-855-638-8371 CONUS, 1-855-638-8372 OCONUS, or 1-855-638-8373 TDD/TTY
3. Fax a completed Enrollment Authorization document (found onwww.tricare.mil/tdp) to 1-855-763-1337
4. Mail a completed Enrollment Authorization document to MetLife TRICARE Dental Program, P.O. Box 14185 Lexington, KY 40512
The first monthly premium payment is due upon enrollment so if you mail in your enrollment authorization, send in a check or money order for the correct amount (include sponsor’s Social Security number OR DoD Benefits Number in the memo section). You can pay by credit card if you enroll online or over the phone.
Coverage begins on the first day of the month following receipt of the first premium IF the payment is received before the 20th of the month. If the payment arrives after the 20th of the month, coverage will begin on the first day of the second month after the payment is received.
- You enroll and pay on February 19. Your coverage begins on March 1.
- You enroll and pay on February 21. Your coverage begins on April 1.
For additional program information, visit www.metlife.com/tricare or call the toll-free customer service number at 1-855-638-8371. You can also stay up-to-date by following MetLife TDP on Facebook and Twitter.
Information for All Families
In general, you should make sure that you are getting the best deal in all areas of your financial life. Here’s a quick list of the policies and accounts you should check annually:
- Insurance Policies (life, health, dental, homeowners/renter’s, auto)
- Investment accounts (CDs, money market accounts, mutual funds, stocks, bonds)
- Credit Cards
More Tips for Organizing Your Finances
Now that you’ve evaluated your dental insurance needs, don’t forget to clean up the other areas of your life to establish a healthy household and bank account this year. Use my Annual Checklist to make sure you assess key areas.
Also, tighten up your budget and get a hold of your finances with the help of my family budgeting worksheets. They’ll help you track your spending and set financial goals.