Benefits of Military Retirement in the US: A Comprehensive Guide
For those who have dedicated years of service to the US Armed Forces, the transition to military retirement can bring a multitude of benefits, both tangible and intangible. After my 32-year Navy career, retiring as a Master Chief E-9, I've experienced firsthand the rewards of a military retirement. In addition to a monthly pension, healthcare benefits, and access to various base activities, the list of perks extends far beyond the financial aspect. This guide aims to highlight some of the key benefits that military retirees like myself have enjoyed.
Tricare Medical Benefits
One of the most significant benefits of military retirement is Tricare medical coverage. Even for someone who maintains their health, Tricare can be a huge financial relief. For instance, during my wife and I's recent trip to get shingles vaccinations, the cost would have been $600 without insurance; Tricare covered it for free. Additionally, FEDVIP offers more economical coverage for dental and vision, saving significant money compared to civilian providers. A possible downside is the continued SGLI life insurance, which can be quite expensive and not worth the cost.
Shopping Benefits
Apart from healthcare, military retirees can enjoy full benefits to shop at BX, PX, or NEX commissaries on any military installations, or order online through AAFES with delivery to the doorstep. The convenience is unmatched, as items are often available at a lower cost, tax-free, and sometimes cheaper than retail prices. For instance, I recently purchased an Apple MacBook Pro for $1000, right below the local Apple store's price, and it was tax-free! Even gasoline is cheaper on base, though not always.
Lodging and Dining Benefits
Another perk is the opportunity to stay at military installations when space is available. Many installations allow military families to eat at base dining facilities, with most having food courts or restaurants. Some installations even offer discounts for military members using credit cards linked to the Star Card program. This has allowed me to take full advantage of military perks, especially convenient when traveling for personal or business purposes.
National Parks and Seashores Access
Those who retire from the military gain lifetime access to National Parks and Seashores. Living near Cape Canaveral National Seashore, I now enjoy free access to this and any other National Parks, thanks to my military service. This not only adds to the quality of life but also provides ample opportunities for outdoor recreation and family bonding.
Financial and Professional Security
Beyond the tangible benefits, the financial security provided by a military pension is reassuring. It allows me the flexibility to work part-time if I so choose without the pressure of finding a high-paying civilian job. I enrolled in the Survivor Benefit Plan (SBP), ensuring my spouse receives part of my pension if something were to happen to me. Additionally, many employers seek out retired military personnel due to their proven trustworthiness and the ability to pass security clearance checks, further enhancing their career opportunities.
Intangible Benefits
The intangible benefits of military retirement are equally valuable. Retirees are often met with respect and gratitude from the public, and there is a strong camaraderie among veterans and retirees regardless of branch of service. The sense of accomplishment in completing a career in the US military is a profound reward that many find deeply fulfilling.
In conclusion, the benefits of military retirement in the US are extensive, offering tangible perks as well as intangible rewards. From healthcare coverage to shopping discounts and national park access, military retirees enjoy a range of benefits that enhance their quality of life and provide financial security. These benefits make military retirement a highly attractive option for those who have dedicated their lives to serving their country.