How will your employer retiree drug coverage work with your Medicare prescription drug coverage?:QuickMedicareSupplement.com

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How will your employer retiree drug coverage work with your Medicare prescription drug coverage?

How will your employer retiree drug coverage work with your Medicare prescription drug coverage?

Your existing or previous employer or union must have sent you information that lets you know how your existing coverage compares to the standard Medicare drug coverage. This information is important as it can have an effect on the decision you need to make about joining a Medicare drug plan. Do not make any decisions unless you have analyzed this information. If you did not obtain information from your employer or union, you should get in touch with the employer/union or the advantages administrator for your existing coverage.

Your current or previous employer or union must send you this information:

1. Prior to November 15th of each year.

2. Before your Initial Enrollment Period for Medicare.

3. If you by now have Medicare and you join an employer or union plan.

4. If your employer or union ends the drug coverage they offer.

5. If your employer or union drug coverage changes so that it is no longer as good as, or becomes as good as, the standard Medicare prescription drug coverage.

6. Whenever you request it.

Retiree Drug Subsidy:

Medicare is offering assistance to employers and unions to encourage them to keep giving high quality prescription drug coverage. If your employer or union is claiming you for the retiree drug subsidy, you should initially talk to your benefits administrator ahead of making any changes to your present coverage. If you attempt to join a Medicare drug plan, your benefits administrator and/or the Medicare drug plan may contact you to verify your choice.

You may not be able to have both Medicare drug coverage and employer/retiree drug coverage if your employer is claiming you for the retiree drug subsidy. Your employer is answerable for telling you how their coverage works with Medicare.

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