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TRICARE released 2024 costs for TRICARE Prime and Select plans Nov. 7.

Cost changes to Prime and Select plans are driven by the retiree cost-of-living adjustment (COLA), which sits at 3.2% for the upcoming year; 2024 rates for plans tied to other factors – TRICARE Reserve Select, Retired Reserve, Young Adult and the Continued Health Care Benefit Program – were released last August.  

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For retirees and their dependents, TRICARE Prime is generally less expensive than TRICARE Select, especially if you are enrolled in a military treatment facility (MTF). However, TRICARE Select is considered much more flexible, as it does not require a visit to your primary care manager (PCM) to get a referral for specialty care.

The difference in maximum out-of-pocket costs for covered services – the catastrophic cap (CC) – has steadily grown since the TRICARE Select CC was increased from $3,000 to $3,500 in 2019 and has been COLA-adjusted each year since. The TRICARE Select CC will increase to $4,157, as the Prime CC remains at $3,000.   

Other 2024 rates to consider for retirees and their families in Group A (those who entered service before Jan. 1, 2018):

TRICARE Prime

• Annual premium, individual: $363 (up from $351.96 in 2023)
• Annual premium, family: $726 (up from $703.92)
• Deductible: $0 (same as 2023)
• Primary care copayment: $25 (up from $24)
• Specialty care copayment: $37 (up from $36)
• Catastrophic cap: $3,000 (same as 2023)

TRICARE Select

• Annual premium, individual: $177.96 (up from $171.96 in 2023)
• Annual premium, family: $355.92 (up from $345)
• Deductible, individual: $150 (same as 2023)
• Deductible, family: $300 (same as 2023)
• Primary care copayment: $36 (up from $34)
• Specialty care copayment: $50 (up from $49)
• Catastrophic cap: $4,157 (up from $4,028)

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Visit this link for full 2024 pricing, including costs for active duty servicemembers and families; out-of-pocket costs for ambulance services, emergency room visits, and inpatient admission; and a full breakdown of out-of-network pricing for TRICARE Select users. The site also includes prices for Group B beneficiaries (those whose service began on or after Jan. 1, 2018).