Creditable against Non-creditable Employer Retiree Drug Coverage:QuickMedicareSupplement.com

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Creditable against Non-creditable Employer Retiree Drug Coverage

Creditable against Non-creditable Employer Retiree Drug Coverage

If your present employer/union coverage is in any case as good as the standard Medicare drug coverage, this is called creditable:

• You can keep it for as long as it is still offered, and

• You will not have to pay a penalty if you drop or lose your coverage. If you unwillingly lose the coverage, you must join a Medicare drug plan with an effective date that is within 60 days of the coverage end date. If you choose to drop the coverage, you must join a Medicare drug plan within 3 months of dropping the coverage. On the other hand, if you do not enroll in a Medicare drug plan and have a period of 63 days or longer without coverage that is as good as Medicare's coverage, you may have to pay a penalty when you do enroll.

Keep a photocopy of the notice that says you have creditable coverage. If you join a Medicare drug plan after you are first qualified, you'll need to present this as evidence. Your plan may get in touch with you for further information. They will decide whether you have had nonstop creditable drug coverage and send this information to Medicare.

If your existing employer/union coverage is not at least as good as the standard Medicare drug coverage, non-creditable, you may be able to:

• Keep your present employer/union drug plan and join a Medicare drug plan that gives you entire coverage.

• Keep only your existing employer/union drug plan. If you join a Medicare drug plan after you are first qualified, you'll have to pay a penalty.

• Drop your recent coverage and join a Medicare drug plan or a Medicare Advantage drug plan.

If you drop your employer/union coverage, you may not be able to get it back. You may not be able to drop your employer/union drug coverage without also dropping your employer/union health coverage.

In a number of cases, employers or unions have regulations that say you cannot have both a Medicare drug plan and your employer/union plan. Your up to date coverage may end for you and you’re the ones who depend on you.

You should speak to your employer/union and/or the benefits administrator about all of your alternatives.

If you are covered under COBRA, you should check with your former employer/union or the benefits administrator to see if the coverage is worthy.

Workers' compensation is not considered worthy coverage.

If you didn't receive a creditable coverage notice:

You must request in writing a replica of the creditable coverage notice from your employer/union. You must send it by certified/registered mail. Keep a photocopy of your letter for your records.

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