[HEALTH.MIL] Credit Cards Expire: Use Automatic Monthly Payments To Make TRS Monthly Premiums
- From: HEALTH.MIL@xxxxxxxxxxxxx
- To: <HEALTH.MIL@xxxxxxxxxxxxx>
- Date: Thu, 30 Jan 2014 11:27:19 -0600
Credit Cards Expire: Use Automatic Monthly Payments To Make TRS Monthly Premiums
1/29/2014
An electronic fund transfer (EFT) is an easy, low-maintenance option for
managing TRICARE Reserve Select (TRS) payments. While TRS beneficiaries are
required to setup an EFT to pay their premiums, it's not foolproof and missed
payments can result in a loss of health care coverage.
One major reason for missed payments is an expired credit card. The start of a
new year is a good time to check the expiration date on the credit card used for
TRS EFTs. Make sure to update the regional contractor with any new or pending
account information.
If a payment is missed because of insufficient funds, beneficiaries must contact
the regional contractor as soon as possible to make payment. If an EFT defaults,
there is a service charge of up to $20. Failure to pay any overdue premium
amounts will result in suspension of coverage; effective the last day of the
month last paid.
TRICARE's goal is to make it easy to manage and pay premiums through EFT
options. Premiums are deducted on the first business day of the month, so update
the regional contractor with account changes as far in advance as possible.
Click here to learn more about TRS premiums and EFT options:
www.tricare.mil/Welcome/Enroll/TRS/Premiums.
Last Updated 1/29/2014
SOURCE: TRICARE News Release at
http://www.tricare.mil/CoveredServices/BenefitUpdates/Archives/01_29_14_UseEFT.a
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