Important Employee Notifications
WHEN WILL YOU PAY A HIGHER PREMIUM (PENALTY) TO JOIN A MEDICARE DRUG PLAN? You should also know that if you drop or lose your current coverage with Alice + Olivia and don’t join a Medicare drug plan within 63 continuous days after your current coverage ends, you may pay a higher premium (a penalty) to join 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 1% of the Medicare base beneficiary premium per month for every month that you did not have that coverage. For example, if you go nineteen months without creditable coverage, your premium may consistently be at least 19% higher than the Medicare base beneficiary premium. You may have to pay this higher premium (a penalty) as long as you have Medicare prescription drug coverage. In addition, you may have to wait until the following October to join. SUMMARY OF OPTIONS FOR MEDICARE ELIGIBLE TEAM MEMBERS (AND/OR DEPENDENTS) Medical and prescription drug coverage are offered as a package under Alice + Olivia plan (you cannot elect medical coverage without prescription drug coverage). 1. Continue medical and prescription drug coverage under Alice + Olivia plan and do not elect Medicare D coverage. IMPACT – Your claims continue to be paid by Alice + Olivia plan. and prescription drug coverage under Alice + Olivia plan and elect Medicare D coverage. IMPACT – As an active team member (or dependent of an active team member) Alice + Olivia plan continues to pay primary on your claims (before Medicare D). 2. Continue medical 3. Drop Alice + Olivia plan coverage and elect Medicare Part D coverage. IMPACT – Medicare is your primary coverage. You will not be able to rejoin Alice + Olivia plan until the next open enrollment period unless you experience a qualified life event. FOR MORE INFORMATION ABOUT THIS NOTICE OR YOUR CURRENT PRESCRIPTION DRUG COVERAGE Contact the person listed below for further information. NOTE: You’ll get this notice each year. You will also get it before the next period you can join a Medicare drug plan, and if this coverage through Alice + Olivia changes. You also may request a copy of this notice at any time.
FOR MORE INFORMATION ABOUT YOUR OPTIONS UNDER MEDICARE PRESCRIPTION DRUG COVERAGE More detailed information about Medicare plans that offer prescription drug coverage is in the “Medicare & You” handbook. You’ll get a copy of the handbook in the mail every year from Medicare. You my also be contracted directly by Medicare drug plans. For more information about Medicare prescription drug coverage:
Visitwww.medicare.gov
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• Call your State Health Insurance Assistance Program (see the inside back cover of your copy of the “Medicare & You” handbook for their telephone number) for personalized help
Call 1-800-MEDICARE (1-800-633-4227).
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TTY users should call 1-877-486-2048
If you have limited income and resources, extra help paying for Medicare prescription drug coverage is available. For information about this extra help, visit Social Security on the web at www.socialsecurity.gov, or call them at 1-800-772-1213 (TTY 1-800-325-0778).
If you have questions, contact Human Resources.
REMEMBER: KEEP THIS CREDITABLE COVERAGE NOTICE. IF YOU DECIDE TO JOIN ONE OF THE MEDICARE DRUG PLANS, YOU MAY BE REQUIRED TO PROVIDE A COPY OF THIS NOTICE WHEN YOU JOIN TO SHOW WHETHER OR NOT YOU HAVE MAINTAINED CREDITABLE COVERAGE AND, THEREFORE, WHETHER OR NOT YOU ARE REQUIRED TO PAY A HIGHER PREMIUM (A PENALTY).
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