Page 24 - 2015 Enrollment Guide
P. 24
2015 Employee
Beneits Program
Medicare Part D Notice 2. AIP Aerospace has determined that the prescription drug coverage offered
by its group health plan is, on average for all plan participants, expected to
Important Notice from pay out as much as standard Medicare prescription drug coverage pays and
AIP Aerospace About Your is therefore considered Creditable Coverage. Because your existing coverage
Prescription Drug Coverage is Creditable Coverage, you can keep this coverage and not pay a higher
And Medicare premium (a penalty) if you later decide to join a Medicare drug plan.
Please read this notice carefully and keep
it where you can ind it. This notice has When Can You Join a Medicare Drug Plan?
information about your current prescription You can join a Medicare drug plan when you irst become eligible for Medicare and
drug coverage with AIP Aerospace and each year from October 15 through December 7.
about your options under Medicare’s
prescription drug coverage. This information However, if you lose your current creditable prescription drug coverage, through no
can help you decide whether or not you fault of your own, you will also be eligible for a two (2) month Special Enrollment
want to join a Medicare prescription drug Period (SEP) to join a Medicare prescription drug plan.
plan. If you are considering joining, you
should compare your current coverage, What Happens to Your Current Coverage If You Decide
including which drugs are covered and at to Join a Medicare Drug Plan?
what cost, with the coverage and costs of If you decide to join a Medicare drug plan, your current AIP Aerospace coverage
the plans offering Medicare prescription drug will not be affected. You can be covered under both a Medicare drug plan and the
coverage in your area. Information about group health plan maintained by AIP Aerospace at the same time. However, AIP
where you can get help to make decisions Aerospace’s plan will not coordinate with Medicare Part D. You must advise your
about your prescription drug coverage is at pharmacist which plan you would like billed for the medication.
the end of this notice.
Please refer to the summary plan description and/or evidence-of-coverage booklet
There are two important things you need for an explanation of the prescription drug providers and options that covered
to know about your current coverage and individuals (including Medicare eligible individuals) may have available to them
Medicare’s prescription drug coverage: under the group health plan maintained by AIP Aerospace. See pages 7–9 of the
1. Medicare prescription drug coverage CMS Disclosure of Creditable Coverage To Medicare Part D Eligible Individuals
became available in 2006 to everyone Guidance (available at http://www.cms.hhs.gov/CreditableCoverage/), which
with Medicare. You can get this outlines the prescription drug plan provisions and options that Medicare eligible
coverage if you join a Medicare individuals may have available to them when they become eligible for Medicare Part
Prescription Drug Plan or join a D.
Medicare Advantage plan (like an HMO If you do decide to join a Medicare drug plan and drop your current AIP Aerospace
or PPO) that offers prescription drug coverage, be aware that you and your dependents may enroll back into the AIP
coverage. All Medicare drug plans Aerospace beneit plan during an open enrollment period under the AIP Aerospace
provide at least a standard level of beneit plan.
coverage set by Medicare. Some plans
may also offer more coverage for a
higher monthly premium.
24
Beneits Program
Medicare Part D Notice 2. AIP Aerospace has determined that the prescription drug coverage offered
by its group health plan is, on average for all plan participants, expected to
Important Notice from pay out as much as standard Medicare prescription drug coverage pays and
AIP Aerospace About Your is therefore considered Creditable Coverage. Because your existing coverage
Prescription Drug Coverage is Creditable Coverage, you can keep this coverage and not pay a higher
And Medicare premium (a penalty) if you later decide to join a Medicare drug plan.
Please read this notice carefully and keep
it where you can ind it. This notice has When Can You Join a Medicare Drug Plan?
information about your current prescription You can join a Medicare drug plan when you irst become eligible for Medicare and
drug coverage with AIP Aerospace and each year from October 15 through December 7.
about your options under Medicare’s
prescription drug coverage. This information However, if you lose your current creditable prescription drug coverage, through no
can help you decide whether or not you fault of your own, you will also be eligible for a two (2) month Special Enrollment
want to join a Medicare prescription drug Period (SEP) to join a Medicare prescription drug plan.
plan. If you are considering joining, you
should compare your current coverage, What Happens to Your Current Coverage If You Decide
including which drugs are covered and at to Join a Medicare Drug Plan?
what cost, with the coverage and costs of If you decide to join a Medicare drug plan, your current AIP Aerospace coverage
the plans offering Medicare prescription drug will not be affected. You can be covered under both a Medicare drug plan and the
coverage in your area. Information about group health plan maintained by AIP Aerospace at the same time. However, AIP
where you can get help to make decisions Aerospace’s plan will not coordinate with Medicare Part D. You must advise your
about your prescription drug coverage is at pharmacist which plan you would like billed for the medication.
the end of this notice.
Please refer to the summary plan description and/or evidence-of-coverage booklet
There are two important things you need for an explanation of the prescription drug providers and options that covered
to know about your current coverage and individuals (including Medicare eligible individuals) may have available to them
Medicare’s prescription drug coverage: under the group health plan maintained by AIP Aerospace. See pages 7–9 of the
1. Medicare prescription drug coverage CMS Disclosure of Creditable Coverage To Medicare Part D Eligible Individuals
became available in 2006 to everyone Guidance (available at http://www.cms.hhs.gov/CreditableCoverage/), which
with Medicare. You can get this outlines the prescription drug plan provisions and options that Medicare eligible
coverage if you join a Medicare individuals may have available to them when they become eligible for Medicare Part
Prescription Drug Plan or join a D.
Medicare Advantage plan (like an HMO If you do decide to join a Medicare drug plan and drop your current AIP Aerospace
or PPO) that offers prescription drug coverage, be aware that you and your dependents may enroll back into the AIP
coverage. All Medicare drug plans Aerospace beneit plan during an open enrollment period under the AIP Aerospace
provide at least a standard level of beneit plan.
coverage set by Medicare. Some plans
may also offer more coverage for a
higher monthly premium.
24
