I retired in 2010 so things may have changed a bit, but I doubt much. I spent a lot of evenings reading the regs online because I've found through the years that those that are supposed to know the rules generally don't know them.
In more than 30 yrs AD/Gd/Res, I was able to cobble together more than 7305 AD points (there are 5 leap years in 20 years) so I qualified for an AD retirement. I actually had to switch from Gd to Res because they weren't going to allow me an AD retirement; otherwise I would have stayed Guard. Once I hit ~6300 AD points, they throttled back on my AD orders.
I'll assume you're only referring to a traditional Gd/Res retirement
Collecting retirement below age 60:
Early Retirement for National Guard and Reserves
Medical: You may be eligible for VA medical benefits; I never looked into that.
Prior to age 60, you can get Tricare Retired Reserve. It currently costs $402.11/mo for individuals and $969.10/mo for family. Not sure on benefits. Here's a link:
Health Plan Costs - TRICARE Retired Reserve Costs
At age 60 (doesn't change even if you're drawing retirement pay earlier than 60), you become eligible for tricare standard, extra, and prime. I'd discuss them further but that will change quite a bit before you get there.
At age 65, you get Tricare For Life. It's a medicare supplement.
TSP: I dumped as much money as possible in it. I've always been a huge saver. However, you've got 401k with matching in the civilian world. Make sure you don't exceed maximums between your civilian 401k and TSP. That's $17,500 that you can contribute (doesn't count civilian match).
I cashed out my TSP at retirement, rolling my taxable portion into a tradtional IRA. I then rolled that money over 2010, 2011, and 2012 into a Roth.
For retirement points, that's correct. However much per point you're paid at retirement times the number of points you've earned. I can't remember how to get a Guard points printout; does the AFRPC handle that? Here's a year old retired pay calculator:
https://www.hrc.army.mil/Calculators/ValueOfAPoint.aspx
Assume you're an E-8 over 24; that's .354/pt. If you've earned 4000 points, that's 4000 x .354 = $1416/mo.
Military retirement check doesn't directly effect SS. However, once your retirement income reaches a certain amount, more of your SS becomes taxable. Example: If you're drawing a military retirement plus SS plus you have to withdraw taxable IRA, you will likely have to pay taxes on SS.
Are Your Social Security Benefits Taxable?
Be careful about assuming everything happens 'automagically' at age 60. It doesn't. You have to apply for your retirement check.
Retirement application process centralized for reservists
Factsheets : Retired Pay Information
It:
1
: that one —used as subject or direct object or indirect object of a verb or object of a preposition usually in reference to a lifeless thing <took a quick look at the house and noticed
it was very old>, a plant <there is a rosebush near the fence and
it is now blooming>, a person or animal whose sex is unknown or disregarded <don't know who
it is>, a group of individuals or things, or an abstract entity <beauty is everywhere and
it is a source of joy>— compare
he,
its,
she,
they
2
—used as subject of an impersonal verb that expresses a condition or action without reference to an agent <
it is raining>
3
a—used as anticipatory subject or object of a verb <
it is necessary to repeat the whole thing> ; often used to shift emphasis to a part of a statement other than the subject <
it was in this city that the treaty was signed>
b—used with many verbs as a direct object with little or no meaning <footed
it back to camp>
4
—used to refer to an explicit or implicit state of affairs or circumstances <how is
it going>
5
: a crucial or climactic point <this is
it>
OK, you now have more retirement information than 90% of your coworkers. If you want to garner favor with them, become an expert on this stuff and pass it on to them. The Guard's all about networking and if you do favors for the right people, it will significantly enhance your Guard career.