What do I do if I have prescription coverage through my former employer?
Your former employer was required to send you a letter stating whether their coverage is better or worse than the coverage offered by Medicare Part D. This letter must have been sent to you by November 15, 2005 and you should keep this letter for your records. Not all employers will send a specific letter; the information may be included in a newsletter or other mailing. If you do not have a record of such communication, you may want to contact the Human Resources department at your former employer for this information.
If your previous employer coverage is as good as or better than Medicare Part D you will not need to sign up for a plan and you will not be penalized if you lose your coverage and must sign up later for a plan (as long as you sign up for a plan within 63 days of losing coverage).
If your current coverage is not as good as what is offered through Medicare Part D and you did not enroll in a Medicare Part D plan before May 15, 2006 you will incur a penalty if you enroll in a plan during open enrollment.