Here are some instances of other insurance benefits that can be applied to Medicare participants: How can Medicare Part D function with an employer or union plan? An employer or union plan decides how to work with Medicare and whether the benefits should be consolidated with Medicare plan. The union or employer must inform you if your current drug coverage changes when you qualify for Medicare. This notice also applies to spouses if they enroll in the employer’s health plan and are eligible for Medicare. Your employer can do the following:
- Continue your current insurance
- Offer alternative insurance through a specific plan for prescription drugs, a Medicare portion or a Medicare Advantage drug plan
- Terminate your insurance
It would be a good idea to ask the union or the employer if you and / or your family members will be removed from the plan if you are enrolled in a Medicare plan that provides prescription drug services. If you like the plan of the employer or the union and/or your family is insured by your plan, you can keep it if the plan allows it. In this case, consult the insurance plan “insurance plan” of your plan (to be sent each fall) to make sure that you have creditworthy drugs. If the plan does not provide acceptable insurance for prescription drugs, you can adhere to a Part D prescription drug plan to prevent late introduction of Part D drugs.
How Part D of Medicare Could Work With COBRA
If you lose the insurance plan of your union or employer with the end of your employment relationship, you may be entitled to the benefits provided by Ombibus’s Consolidated Budget Conciliation Act (COBRA). You and your insured family members with COBRA can continue to purchase insurance based on the employer’s or union’s plan for a specified period, usually the entire insurance premium previously shared or paid in full by the employer and administrative costs. If the COBRA plan does not provide sufficient insurance for prescription drugs, subscribing to a Medicare Part D drug plan can help avoid fines for later registration. You may want to check with your state’s health insurance program to understand your options.
How can Medicare Part D function with individual insurance plans?
If you have an individual insurance plan (other than Medicare) that provides prescription drug insurance, the insurance agency must let you know if your current coverage is “credible” or not. If this is not the case, you can apply for a Medicare drug insurance plan as soon as you qualify so you do not have to wait for a late registration fee for Part D. You may be able to use your insurance to supplement health insurance. You can check the conditions of your plan to see if the benefits are coordinated. How can Medicare Part D work with the Federal Employee Health Benefit Program (FEHBP)? If you are a retired or active federal employee, you generally do not need to purchase a Medicare drug plan. The benefits offered by the FEHBP are generally considered to be permissible prescription drugs insurance.