Employer and Group Retiree Guide to Part D Coverage

Part D Enrollment For Employer and Group Retirees

In the recent past, about 10 million Americans received Medicare coverage (also known as Group Retiree Coverage) from their former employers. In the last two years, many companies have discontinued Medicare insurance to their retired employees. These employees must now purchase Medicare insurance as an individual.

What happens if my employer dropped/cancelled my Medicare coverage?

Many people that had Medicare health insurance from their former employers are finding that they now need to purchase Medicare for themselves. Although this transition may be difficult, many insurance companies that offer Medicare plans do so at a lower overall cost than some plans provided by employers. Our easy to use Part D Comparison Tool can help you choose a plan and enroll directly from this website.

You need to enroll in Medicare during the Medicare Open Enrollment period. If your employer no longer provides you with Medicare insurance, then you must enroll in a new Medicare plan when open enrollment begins on November 15, 2009. For Medicare coverage that begins on January 1, 2010, you must enroll in a plan anytime from November 15, 2009 thru December 31, 2009.
Our Medicare Part D Comparison Tool will help you find a Part D plan based on your zip code and your prescriptions. It will provide you with an estimated annual cost of your expenses, including premiums, deductible, and co-pays.

Can I get the same Medicare coverage that I previously had with my employer?

Yes, it may be possible to sign up for the same plan that provided health insurance to your employer. However, when you enroll as an individual, the costs may vary. It is possible that you will find a plan with a lower premium and a lower annual cost.

Can I buy Medicare Part D coverage, if I still have insurance from my employer?

You will NOT be able to buy an additional Medicare Part D plan, if you have “creditable coverage” from your employer. “Creditable Coverage” is Medicare coverage that is at least as good as the minimum coverage from Medicare. If the Medicare coverage from your employer does not meet the minimum Medicare standards, then you may buy additional coverage. Your employer will send you a notification letter letting you know what type of coverage they provide.

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