Page 35 - 2022 Coral LTC - GIBBINS Benefit Guide Effective 7-1-22

Medicare Part D Notice: Prescription

Drug Coverage and Medicare

This notice has information about your current prescription drug When will you pay a higher premium (penalty) to join a
coverage with Coral LTC and your options under Medicare prescrip- Medicare Drug Plan? You should also know that if you drop or
tion drug coverage. This information can help you decide whether lose your current coverage with Coral LTC medical plan and
or not you want to join a Medicare drug plan. If you are considering don't join a Medicare drug plan within 63 continuous days after
joining, you should compare your current coverage, including which your current coverage ends, you may pay a higher premium (a
drugs are covered at what cost, with the coverage and costs of the penalty) to join a Medicare drug plan later. If you go 63 contin-
plans offering Medicare prescription drug coverage in your area. uous days or longer without creditable prescription drug cov-
Information about where you can get help to make decisions about erage, your monthly premium may go up by at least 1% of the
your prescription drug coverage is at the end of this notice. Medicare base beneficiary premium per month for every
month that you did not have that coverage. For example, if

Please note: If you are not Medicare eligible, and none of your
you go nineteen months without creditable coverage, your
covered family members are Medicare eligible, no action is required
premium may consistently be at least 19% higher than the
on your part.
Medicare base beneficiary premium. You may have to pay this
There are two important things you need to know about your higher premium (a penalty) as long as you have Medicare
current coverage and Medicare's prescription drug coverage: prescription drug coverage. In addition, you may have to wait
until the following October to join.
• Medicare prescription drug coverage became available in 2006
to everyone with Medicare. You can get this coverage if you join a For more information about this notice or your current
Medicare Prescription Drug Plan or join a Medicare Advantage Plan Prescription Drug Coverage: Contact your HR department for
(like an HMO or PPO) that offers prescription drug coverage. All further information. NOTE: You may receive this notice at

Medicare drug plans provide at least a standard level of coverage other times in the future such as before the next period you
set by Medicare. Some plans may also offer more coverage for a can enroll in Medicare prescription drug coverage, and if this
higher monthly premium. coverage changes. You also may request a copy.

• Coral LTC has determined that the prescription drug coverage For more information about your options under Medicare
offered by Coral LTC medical plan is, on average for all plan partici- Prescription Drug Coverage: More detailed information about
pants, expected to pay out as much as standard Medicare pre- Medicare plans that offer prescription drug coverage is in the
scription drug coverage pays and is therefore considered Credita- "Medicare & You" handbook. You'll get a copy of the handbook
ble Coverage. Because your existing coverage is Creditable Cover- in the mail every year from Medicare. You may also be
age, you can keep this coverage and not pay a higher premium (a contacted directly by Medicare drug plans.
penalty) if you later decide to join a Medicare drug plan.
For more information about Medicare prescription drug
When can you join a Medicare Drug Plan? You can join a Medicare coverage:
drug plan when you first become eligible for Medicare and each
• Visit www.medicare.gov.
year from October 15 through December 7. However, if you lose
your current creditable prescription drug coverage, through no fault • Call your State Health Insurance Assistance Program (see the
of your own, you will also be eligible for a two (2) month Special inside back cover of your copy of the "Medicare & You"
Enrollment Period (SEP) to join a Medicare drug plan. handbook for their telephone number) for personalized help.

What happens to your current coverage if you decide to join a • Call 1-800-MEDICARE (1-800-633-4227). TTY users should call

Medicare Drug Plan? If you decide to join a Medicare drug plan, 1-877-486-2048.
your current Coral LTC medical coverage will not be affected. Partic-
If you have limited income and resources, extra help paying for
ipants may keep this coverage if they elect Part D and this plan will
Medicare prescription drug coverage is available. For
coordinate with Part D coverage. If you decide to join a Medicare information about this extra help, visit Social Security on the
drug plan and drop your current Coral LTC medical plan coverage, web at www.socialsecurity.gov, or call them at 1-800-772-1213
be aware that you and your dependents will NOT be able to get this (TTY 1-800-325-0778).
coverage back.

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