TRICARE released 2024 costs for TRICARE Prime and Select plans Nov. 7, a week before the beginning of open season – and your chance to decide whether switching health care plans makes sense for you or your family.

TRICARE open season runs from Nov. 13 until midnight Dec. 12. 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).