I already have prescription drug benefits through my former employer’s retirement plan. Shouldn’t it be changed to a Medicare Part D prescription drug plan such as Blue MedicareRx?
A. Not necessarily. Your current retiree drug coverage may be “creditable” (coverage with equal or greater value than Medicare standard prescription drug coverage). If so, you can keep your “creditable” coverage and avoid a late enrollment penalty should you later enroll in a Part D prescription drug plan for individuals. The organization offering your current coverage, such as your former employer or union or the insurance company they hired, will tell you whether or not your current coverage is “creditable.
Related Questions
- I already have prescription drug benefits through my former employer’s retirement plan. Shouldn’t it be changed to a Medicare Part D prescription drug plan such as Blue MedicareRx?
- As a Senior Gold participant enrolled in Medicare Part D, can I use my Medicare prescription drug plan benefits outside of New Jersey?
- As a PAAD participant, can I use my Medicare prescription drug plan benefits outside New Jersey?
