Reimbursement Question

[akuko2]

I have read that the military will reimburse you for your health insurance premium if your school requires you to have a certain amount of coverage. If I get a cheaper policy will they reimburse me for that amount or the amount of the school's policy? I ask because I am trying to stretch the living stipend and signing bonus to cover my wife and I until she finishes school, and a friend of mine found a policy for he and his wife that is cheaper for both of them individually (after counting a tax credit) than the individual school policy.

Thanks!

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[WernickeDO]

I have read that the military will reimburse you for your health insurance premium if your school requires you to have a certain amount of coverage. If I get a cheaper policy will they reimburse me for that amount or the amount of the school's policy? I ask because I am trying to stretch the living stipend and signing bonus to cover my wife and I until she finishes school, and a friend of mine found a policy for he and his wife that is cheaper for both of them individually (after counting a tax credit) than the individual school policy.

Thanks!

I believe that you can use any policy, but you will only be reimbursed for the cost of the policy. It's not like you get an extra $300 a month for insurance purposes...you buy the policy and then submit a reimbursement request. Try to find out what the maximum is before you sign up for that platinum plan. Oh, and consider using a credit card, because its can take the military months to reimburse you initially and you don't want to be too cash poor.

 

[akuko2]

Thanks for the reply. Are the reimburstments usualy done on a monthly basis? And do you know if they will pay for a plan that covers my wife and I if the monthly premium is less than the individual plan my school offers?

 

[WernickeDO]

Thanks for the reply. Are the reimburstments usualy done on a monthly basis? And do you know if they will pay for a plan that covers my wife and I if the monthly premium is less than the individual plan my school offers?

Pretty sure they will only pay for you, but may be wrong on that. I used to pay quarterly.

 

[akuko2]

Pay quarterly? As in you were reimbursed for your school related expenses quarterly?

 

[psychbender]

Back when I was in school, insurance was reimbursed yearly.

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[akuko2]

What about books? Are things reimbursed at diffrent times or is there just an annual reimburstment period.

 

[USArmyHPSP]

Not sure about the Air Force HPSP reimbursement, for the Army, once your first of the first semester of the scholarship has passed, you can submit a claim for reimbursement. You will not be allowed to submit another for 30 days, and each has to be $250.00 or more.

There are several students who submit for health insurance monthly, quarterly, bi-annually, and annually. It mostly depends on how they are billed by the insurance company.

Best bet for the OP is to talk to the AF HPSP office.

 

[deuist]

When I was in medical school (10 years ago) I would submit my claim for reimbursement after every purchase, whether it be textbooks, insurance premiums, laptop rental, and so on. I frequently got paid about a month later and never had any push backs for any of my purchases. Things may have changed and you should check with the HPSP office first.