1/5/2024 0 Comments Tricare copayThese plans include creditable prescription drug coverage, so you don’t need to get Medicare drug coverage. This is health coverage for current and retired federal employees and covered family members. Federal Employee Health Benefits (FEHB) Program If you have one of these types of insurance, in most cases, it will be to your advantage to keep your current coverage. The types of insurance listed below are all considered The Health Insurance Marketplace (also known as the “Marketplace” or “exchange”) provides health plan shopping and enrollment services through websites, call centers, and in-person help. The federal government operates the Marketplace, available at, for most states. Health Insurance MarketplaceĪ service that helps people shop for and enroll in affordable health insurance. The value of the Extra Help paying your drug costs will make up for any decrease in food stamp benefits. If you're near the food stamps eligibility cutoff, you may lose your minimum food stamp benefits because you’ll be paying less for your prescription drugs. , your food stamp benefits may decline, but that decline will be offset by Extra Help. If you get food stamps, you may want to join a Medicare drug plan. The value of the Extra Help paying your drug costs will make up for any decrease in your housing assistance. However, your housing assistance may be reduced as your prescription drug spending decreases. , you won't lose your housing assistance. If you get housing assistance from the Department of Housing and Urban Development (HUD), you may want to join a Medicare drug plan. This allows you to choose a plan that contracts with your nursing home's pharmacy. If you're entering, living in, or leaving a nursing home, you'll have the opportunity to choose or switch your Medicare drug plan. Long-term care pharmacies contract with Medicare drug plans to provide drug coverage to their residents. Contact your SPAP to get more information. Some states have a separate state program that helps with prescriptions. Some states give extra coverage when you join a Medicare drug plan. Works with Medicare prescription drug coverage. State Pharmaceutical Assistance Program (SPAP) If you don't join a plan, Medicare will enroll you in one to make sure you don't miss a day of coverage. If you get benefits or help from your state Medicaid program paying your Medicare premiums, you need to join a Medicare drug plan for Medicare to cover your drugs. If you decide you want another plan, you can switch to another plan at any time. If you don't join a drug plan, Medicare will enroll you in one to make sure you don't miss a day of coverage. If you have full coverage from Medicaid and live in an assisted living or adult living facility, or a residential home, you'll pay a small If you have full coverage from Medicaid and live in a nursing home, you pay nothing for covered prescription drugs. In most cases, you'll pay a small amount for your covered drugs. You'll need to join a Medicare drug plan for Medicare to pay for your drugs. Call your Medigap insurance company for more information. If you join a Medicare drug plan, your Medigap insurance company must remove the prescription drug coverage under your Medigap policy and adjust your premiums. Medigap policies can no longer be sold with prescription drug coverage, but if you have drug coverage under a current Medigap policy, you can keep it. You may pay more if you join a drug plan later. It may be to your advantage to join a Medicare drug plan because mostĭrug coverage isn't creditable. Medicare Supplement Insurance (Medigap) policy with prescription drug coverage If you have questions about Medicare and COBRA, call the Benefits Coordination & Recovery Center at 1-85 (TTY: 1-85). Talk with your State Health Insurance Assistance Program (SHIP) to see if COBRA is a good choice for you. , you'll have a special enrollment period to join a Medicare drug plan without a penalty when COBRA ends. There may be reasons why you should take Medicare drug coverage instead of, or in addition to, COBRA. If this happens, you may not be able to get your employer or union coverage back. If you have employer or union coverage and get Medicare drug coverage, you may lose your employer or union health and drug coverage (for you and your dependents) even if you qualify for Extra Help. Call your benefits administrator before you make any changes, or sign up for Medicare drug coverage.
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