Medicare Drug Plan

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date Medicare Drug Plan HW \"Skip\" Weldon 01-12-2010  Re: Medicare Drug Plan Avrum Lapin 01-12-2010
Posted by HW \"Skip\" Weldon on January 12, 2010, 5:13 pm My understanding is that Medicare requires that the only drug plan allowed for Medicare participants is the Plan D benefits. Yet some employers still allow retirees over 65 to continue participating in their health plan which can have very attractive drug benefits - much more so than the Plan D. I assume there is some exception in Medicare for this. Does anyone know the specifics? Posted by Avrum Lapin on January 12, 2010, 5:56 pm > My understanding is that Medicare requires that the only drug plan > allowed for Medicare participants is the Plan D benefits. Yet some > employers still allow retirees over 65 to continue participating in > their health plan which can have very attractive drug benefits - much > more so than the Plan D. > > I assume there is some exception in Medicare for this. Does anyone > know the specifics? If your employer/union prescription plan has been judged equal or better than Part D (the Medicare word is creditable) then you may continue in that plan and not pay a penalty should you later join Part D. Your employer/union plan will have a statement in it about equivalence to Part D. The booklet Medicare and You (mailed to Medicare recipients and available at medicare.gov) has more details on page 71 Similar Threads Posted Medicare Plan D doughnut hole December 20, 2009, 11:55 am Medicare Part B while working and really high employer plan deductible? who pays? December 22, 2009, 5:03 am Medicare Advantage vs. Original Medicare + Medigap? December 12, 2009, 10:49 pm Re: Medicare November 1, 2007, 2:28 pm Re: Medicare December 4, 2007, 2:31 pm Medicare question November 5, 2009, 12:20 pm Medicare Part B premiums November 4, 2008, 4:27 pm long term care and Medicare September 19, 2008, 4:14 pm medicare premium based on pre-retirement income? August 10, 2007, 9:55 am Retirement IRA plan January 7, 2007, 7:35 am