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See also our creditable coverage Q&A
Starting January 1, 2006, prescription drug coverage will be available to everyone with Medicare through Medicare prescription drug plans. All Medicare prescription drug plans will provide at least a standard level of coverage set by Medicare. Some plans might also offer more coverage for a higher monthly premium. Because your existing coverage is on average at least as good as standard Medicare prescription drug coverage, you can keep this coverage and not pay extra if you later decide to enroll in Medicare coverage. People with Medicare can enroll in a Medicare prescription drug plan from November 15, 2005 through May 15, 2006. However, because you have existing prescription drug coverage that, on average, is as good as Medicare coverage, you can choose to join a Medicare prescription drug plan later. Each year, you will have the opportunity to enroll in a Medicare prescription drug plan beginning November 15th through December 31st. If you do decide to enroll in a Medicare prescription drug plan, you will still be covered by the Fund. Your prescription drug coverage through the Fund will be secondary to your Medicare prescription drug coverage. You should compare your current coverage, including which drugs are covered, with the coverage and cost of gthe plans offering Medicare prescription drug coverage in your area. In addition to prescription drug coverage, your current coverage pays for other health expenses, such as dental and vision. You will still be eligible to receive all of your current health and prescription drug benefits if you choose to enroll in a Medicare prescription drug plan. If you drop or lose your coverage with the Fund and don’t enroll in Medicare prescription drug coverage after your current coverage ends, you may pay more to enroll in Medicare’s prescription drug plan later. If after May 15, 2006, you go 63 days or longer without prescription drug coverage that is at least as good as Medicare’s prescription drug coverage, your monthly premium will go up at least 1% per month for every month after May 15, 2006 that you did not have that coverage. For example, if you go nineteen months without coverage, your premium will always be at least 19% higher than what most other people pay. You’ll have to pay this higher premium as long as you have Medicare coverage. In addition, you may have to wait until next November to enroll.
Contact the PBA Funds Office at (212) 349-7560. NOTE: You may receive this notice at other times in the future such as before the next period you can enroll in a Medicare prescription drug plan, or if your coverage through the Fund changes. You also may request a copy of this notice at anytime.
More detailed information about Medicare plans that offer prescription drug coverage will be available in October 2005 in the “Medicare & You 2006” handbook. You will get a copy of the handbook in the mail from Medicare. You may also be contacted directly by Medicare prescription drug plans. You can also get more information about Medicare prescription drug plans from these places:
For people with limited income and resources, extra help paying for a Medicare prescription drug plan is available. Information about this extra help is available from the Social Security Administration (SSA). For more information about this extra help, visit SSA online at www.socialsecurity.gov, or call them at 1-800- 772-1213 (TTY 1-800-325-0778).
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