This bill enacts the "Tennessee National Guard Servicemember's Medical Readiness Act," which creates within the military department the Tennessee national guard TRICARE premium reimbursement program to award reimbursement grants to a member of the Tennessee national guard who meets the reimbursement application requirements established by the adjutant general through written policies and guidelines for reimbursement of a premium paid for individual coverage through the TRICARE reserve select program or dental program. This bill provides that if any portion of the premiums eligible for reimbursement are later paid for, reimbursed, or otherwise provided by the federal government, then that portion ceases to be reimbursed by the TRICARE premium reimbursement program.