Understanding all there is to know about military and government benefits is important for preparing for retirement, transition and financial independence. In Part 1 and Part 2 of this series, we discussed SBP, VA Benefits and life insurance, Social Security, TRICARE, other health insurance, and Medicare and TRICARE For Life.
In this article we will focus on FEDVIP and Education and Employment Resources, all of which are important to understand in working toward financial independence.
Federal Employees Dental and Vision Insurance Program (FEDVIP)
When leaving the military, in general, you have three options available to maintain your dental and vision care coverage. You can:
- Purchase coverage through your post-military employer.
- Buy individual coverage directly from the marketplace.
- If eligible, you can find coverage through FEDVIP.
FEDVIP provides dental and vision benefits to federal employees, certain retired uniformed servicemembers, and active-duty family members. FEDVIP offers 12 dental and five vision plans across the United States by ZIP Code. During a qualifying life event such as leaving the service, marriage or the birth of a child you can enroll in FEDVIP. There is an annual Open Enrollment with FEDVIP, beginning the second Monday of November to the second Monday of December. Each year, it’s recommended you revisit the options available to you to ensure your coverage levels, premiums, and costs meet your current needs.
To check your eligibility, compare plans, see what is available in your area, and enroll, visit: benefeds.com/general/uniformed-services.
Education & Employment Resources
As a military spouse, you may have had to put your career and employment goals on the backburner while your servicemember was in active service. There are many resources available to you such as scholarships, tuition assistance, certifications and career counseling to name a few. Also, your spouse can transfer the GI Bill their dependents and if eligible, VA education benefits. The Transition Assistance Program (TAP) will highlight many of the career assistance organizations available to you. You can start now by creating your profile on LinkedIn as this is a great way to build your network. Join groups that support military spouses such as SpouseLink that provide support and resources to help you advocate for yourself.
AAFMAA offers information and education for anyone interested in our Learning Hub. You can also subscribe to be notified when content that interests you is available. Additionally, we are active on social media and host short information sessions covering an array of topics, from military spouse employment to TRICARE, life insurance, and opportunities available through our partners.
AAFMAA partners with multiple organizations that promote the advancement of Veterans and military spouses. AAFMAA Members can take advantage of these additional opportunities to assist you in your education and employment goals. Our partner Association of the United States Army (AUSA) includes a job board and a resume critique service as well. AAFMAA partner Boots to Books helps Veterans and their transitioning families to obtain educational assistance and guidance, certifications to propel your post-military career, and employment opportunities. PM-ProLearn, another AAFMAA partner, offers guidance and coursework in project management and other courses to set you on a path to success for your goals post-military.
Virginia Values Veterans V3 program is another AAFMAA Partner helping employers build rapport with Veterans so that they can be hired within the job market. American Corporate Partners (ACP) connects post-9/11 Veterans and military spouses with corporate professionals (Mentors) for customized mentorships in planning your next career. These partners, and more, assist Veterans who are transitioning out of the military.
There are many educational benefits available to Veterans and military families. Hopefully, you have made use of some of them while in service, but planning to use your benefits after transition will help further your career goals as well as propel you toward financial independence.
Please visit va.gov/education/ for a wealth of information about your VA education benefits, and don’t forget to access your state-level education resources as well.
You’ll also want to download the AAFMAA Military Transition Timeline to assist you in planning for your transition to civilian life.
As always, we’re here to assist you throughout your military journey. If you have any questions or need our assistance with your military benefits, an AAFMAA Member Benefits representative can help. Call 888-506-7040 , select option 2, then option 2 again; or email [email protected].