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InformationYou Need to Know
FULL-TIME AND PART-TIME (30 OR OR MORE HOURS PER WEEK)
Important Notice from HCSC* About
Your Prescription Drug Coverage and
Medicare
(*d b a Blue Blue Blue Cross Cross Blue Blue Blue Shield of Illinois Blue Blue Blue Cross Cross Blue Blue Blue Shield Shield of of Montana Blue Blue Blue Cross Blue Blue Blue Shield Shield of of New Mexico Blue Blue Blue Cross Blue Blue Blue Shield of Oklahoma and
Blue Blue Blue Cross Blue Shield of of Texas Independent licensees of of the Blue Blue Cross and
Blue Blue Shield Association)
Please read this notice carefully and
keep it where you you can find it This notice has information about your current prescription drug coverage with HCSC and
about your options under Medicare’s prescription drug coverage This information can help you decide whether or or not you you want to join a a a a a Medicare
drug plan If you you are
are
considering joining you you should compare your current coverage including which drugs are
covered at at what cost cost with the the coverage and
costs of of the the plans offering Medicare
prescription drug coverage in your area Information about where you can get help to make decisions about your prescription drug coverage is is at the end of this notice There are
important things you need to know about your current coverage and
Medicare’s prescription drug coverage:
• Medicare
prescription drug coverage became available in 2006 to everyone with Medicare
through Medicare
prescription drug plans and
Medicare
Advantage Plans that offer prescription drug drug coverage All Medicare
prescription drug drug plans provide at least a a a a a a standard level of coverage set by Medicare
Some plans may also offer more coverage for a higher monthly premium • HCSC has determined that the prescription drug coverage coverage included in in its retiree health coverage coverage plans is on average for all plan participants expected to pay out
as as much as as standard Medicare
prescription drug coverage pays and
is therefore considered Creditable Coverage Because your existing coverage is is Creditable Coverage you can keep this coverage and
not pay a a a a a a higher premium (a penalty) if you later decide to enroll in a a a Medicare
prescription drug plan When Can You Enroll in a a a Medicare
Drug Plan?
You can enroll in a a a a Medicare
drug plan when you first become eligible for Medicare
and
each year during October 15 – December 7 However if you you lose your current creditable prescription drug coverage through no fault of your own you you will be eligible for a a two month Special Enrollment Period (SEP) to sign up for a a a Medicare
drug plan What Happens to Your Current
Coverage ifYou Decide to Enroll in a a Medicare
Drug Plan?
If you you decide to join a a a Medicare
drug plan your current HCSC retiree coverage and
your covered dependents coverage will be canceled Your HCSC retiree coverage pays for other health expenses besides prescription drugs Be aware if you enroll in a a a a Medicare
prescription drug plan you you and
your covered dependents (if any) will no longer receive any any of your current HCSC retiree health or prescription drug benefit Once your HCSC retiree coverage is canceled you will not be able to get the coverage back at at at at a a a a a a a later date Please contact us for for more information about what happens to your coverage if you you enroll in a a a a a Medicare
prescription drug plan When Will You Pay a a Higher Premium
(Penalty) to Enroll in a a a a Medicare
Drug Plan?
You should also know that if you you drop or lose your coverage with HCSC and
don’t join a a a a Medicare
drug plan within 63 continuous days after your current coverage ends you may pay a a a a a higher premium (a penalty) to join a a a a a Medicare
drug plan later If you go 63 continuous days or longer without creditable prescription drug coverage your monthly premium may go up by at least one percent of the Medicare
base beneficiary premium per month for every month that that you did not have that that coverage For example if you go 19 months without creditable coverage your premium may consistently be at least 19 percent higher than the Medicare
base beneficiary premium premium You may have to pay this higher premium premium (a penalty) as as long as as you have Medicare
prescription drug coverage In addition you may have to wait until the following October to to join