Page 14 - 2020 Goodwill Benefits Guide
P. 14
ANNUAL NOTICES
Important Notice from There are two important things you need to know about
Goodwill about your your current coverage and Medicare’s prescription drug
coverage:
Prescription Drug Medicare prescription drug coverage became available in 2006 to everyone with
Coverage and Medicare Medicare. You can get this coverage if you join a Medicare Prescription Drug Plan
Please read this notice carefully and or join a Medicare Advantage Plan (like an HMO or PPO) that ofers prescription
keep it where you can ind it. This drug coverage. All Medicare drug plans provide at least a standard level of
notice has information about your coverage set by Medicare. Some plans may also ofer more coverage for a higher
current prescription drug coverage monthly premium.
with Goodwill and about your options Goodwill has determined that the prescription drug coverage ofered by BCBS of
under Medicare’s prescription drug Tennessee is, on average for all plan participants, expected to pay out as much
coverage. This information can help as standard Medicare prescription drug coverage pays and is therefore considered
you decide whether or not you want to creditable coverage. Because your existing coverage is Creditable Coverage, you
join a Medicare drug plan. If you are can keep this coverage and not pay a higher premium (a penalty) if you later
considering joining, you should compare decide to join a Medicare drug plan.
your current coverage, including which
drugs are covered at what cost, with the When Can You Join A Medicare Drug Plan?
coverage and costs of the plans ofering You can join a Medicare drug plan when you irst become eligible for Medicare and
Medicare prescription drug coverage in each year from October 15th to December 7th. If you lose your current creditable
your area. Information about where you prescription drug coverage through no fault of your own you will also be eligible for a
can get help to make decisions about two month special enrollment period to join a Medicare drug plan.
your prescription drug coverage is at the
end of this notice. What Happens To Your Current Coverage If You Decide to
Join A Medicare Drug Plan?
If you decide to join a Medicare drug plan, your current Goodwill coverage will not be
afected. If you do decide to join a Medicare drug plan and drop your current Goodwill
coverage, be aware that your dependents will not be able to get this coverage back
until the next enrollment period unless you experience a qualiied life event. Note that
your current coverage pays for other health expenses in addition to prescription drugs,
and you will still be eligible to receive all of your current health and prescription drug
beneits if you choose to enroll in a Medicare prescription drug plan and keep your
coverage under the Goodwill Plan.
14
Important Notice from There are two important things you need to know about
Goodwill about your your current coverage and Medicare’s prescription drug
coverage:
Prescription Drug Medicare prescription drug coverage became available in 2006 to everyone with
Coverage and Medicare Medicare. You can get this coverage if you join a Medicare Prescription Drug Plan
Please read this notice carefully and or join a Medicare Advantage Plan (like an HMO or PPO) that ofers prescription
keep it where you can ind it. This drug coverage. All Medicare drug plans provide at least a standard level of
notice has information about your coverage set by Medicare. Some plans may also ofer more coverage for a higher
current prescription drug coverage monthly premium.
with Goodwill and about your options Goodwill has determined that the prescription drug coverage ofered by BCBS of
under Medicare’s prescription drug Tennessee is, on average for all plan participants, expected to pay out as much
coverage. This information can help as standard Medicare prescription drug coverage pays and is therefore considered
you decide whether or not you want to creditable coverage. Because your existing coverage is Creditable Coverage, you
join a Medicare drug plan. If you are can keep this coverage and not pay a higher premium (a penalty) if you later
considering joining, you should compare decide to join a Medicare drug plan.
your current coverage, including which
drugs are covered at what cost, with the When Can You Join A Medicare Drug Plan?
coverage and costs of the plans ofering You can join a Medicare drug plan when you irst become eligible for Medicare and
Medicare prescription drug coverage in each year from October 15th to December 7th. If you lose your current creditable
your area. Information about where you prescription drug coverage through no fault of your own you will also be eligible for a
can get help to make decisions about two month special enrollment period to join a Medicare drug plan.
your prescription drug coverage is at the
end of this notice. What Happens To Your Current Coverage If You Decide to
Join A Medicare Drug Plan?
If you decide to join a Medicare drug plan, your current Goodwill coverage will not be
afected. If you do decide to join a Medicare drug plan and drop your current Goodwill
coverage, be aware that your dependents will not be able to get this coverage back
until the next enrollment period unless you experience a qualiied life event. Note that
your current coverage pays for other health expenses in addition to prescription drugs,
and you will still be eligible to receive all of your current health and prescription drug
beneits if you choose to enroll in a Medicare prescription drug plan and keep your
coverage under the Goodwill Plan.
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