The TRICARE Equality Act seeks to enhance the administration of the TRICARE program for beneficiaries residing in Puerto Rico. It mandates that the Secretary of Defense designate geographical areas for TRICARE Prime in Puerto Rico in a manner consistent with designations in the several States, ensuring broader access to this healthcare option. Furthermore, the bill expands travel and transportation allowances under TRICARE, making beneficiaries in Puerto Rico eligible for these benefits on par with those in the States. It also requires the Federal Electronic Health Record Modernization Office to coordinate with Puerto Rico's Department of Health for health information sharing through the Joint Health Information Exchange. Finally, the legislation directs the Secretary of Defense to submit a report to Congress within 180 days, detailing the progress made in implementing these crucial improvements to TRICARE services in Puerto Rico.