View as a webpage  /  Share

The Military Financial Service Provider eNewsletter

March 2025

Action Required: HCFSA Deadline is Approaching

The Health Care Flexible Spending Account (HCFSA) Special Enrollment Period ends March 31. Now's the time for Service members to decide if this optional health benefit is right for them. The HCFSA offers military families pre-tax savings on eligible medical, dental and vision costs. Spread the word before it's too late!

Learn How to Help Military Families Build Recovery Capital

Substance use disorders (SUDs) can harm every facet of victims' lives, from careers and finances to health and relationships. Discover how to help military families recover in an upcoming OneOp webinar. You'll learn how addiction affects MilFamilies and how to help them recover financially. In addition, discover Cooperative Extension recovery tools. Mark your calendar for March 18 at 11 a.m. EDT.

Help for Military Consumers

As you know, under the Servicemembers Civil Relief Act (SCRA), Service members and military spouses have special safeguards when it comes to rental agreements, evictions, credit card interest rates, civil judicial proceedings and more. You can use this website to help determine if an individual is eligible for SCRA protections.

Your Credit History's Importance to Financial Well-Being

March is National Credit Education Month, the perfect time to review financial fundamentals with military families, such as why credit scores matter and how to establish and maintain strong credit. Don't forget to remind Service members that they have important protections under the Military Lending Act and the Servicemembers Civil Relief Act.

Did You Know?

Child identity theft is on the rise. According to the Federal Trade Commission (FTC), thieves may try to use children's sensitive personal information to commit fraud, but parents can protect their kids. For starters, the FTC suggests asking four critical questions before giving a child's Social Security number to anyone: 1) Why do you need it? 2) How will you protect it? 3) Can you use a different identifier? 4) Can you just use the last four digits? In addition, you'll find shareable information about how parents can report child identity theft, protect sensitive documents and more.

Resources

• SEC: Show Service members how to assess their risk tolerance.
  
  
• MilConsumer.gov: Help Service members manage credit and debt.
   
• MilTax: Refer Service members to free military tax experts.
  
  
• MilSpouse Money Mission: Learn the three faces of debt.
  
  

Service Providers and Leaders

The Department of Defense Office of Financial Readiness is here to support you in your mission of providing Service members and their families with exceptional financial knowledge and education. You’ll find resources for developing your social media presence, keeping abreast of financial policies and laws, enhancing your coaching skills through training and much more every month in this official communication from the United States Government.