Medicare Part D Notice

Important Notice from BGSU about Your Prescription Drug Coverage and Medicare

Please read this notice carefully and keep it where you can find it. This notice has important information about your current prescription drug coverage with Bowling Green State University and about your options under Medicare’s Part D prescription drug coverage. This information can help you decide whether or not you want to join a Medicare drug plan. If you are considering joining, you should compare your current coverage, including which drugs are covered at what cost, with the coverage and costs of the plan offering Medicare prescription drug coverage in your area. More information about where you can get help to make decisions about your prescription drug coverage is at the end of this notice.

There are two important things you need to know about your current BGSU prescription drug coverage and Medicare’s prescription drug coverage:

1. Medicare Part D for prescription drug coverage became available in 2006 to everyone with Medicare. You can get this coverage if you join a Medicare Prescription Drug Plan or join a Medicare Advantage Plan (like an HMO or PPO) that offers prescription drug coverage. All Medicare prescription drug plans provide at least a standard level of coverage set by Medicare. Some plans might also offer more coverage for a higher monthly premium.
2. BGSU has determined that the prescription drug administered by CVS/Caremark is, on average for all plan participants, expected to pay out as much as the standard Medicare prescription drug coverage pays and is therefore considered Creditable Coverage. Because your existing coverage is Creditable Coverage, you can keep this coverage and not pay a higher premium (a penalty) if you decide later to join a Medicare drug plan.

When Can You Join a Medicare Part D Prescription Drug Plan?

You can join a Medicare prescription drug plan when you first become eligible for Medicare and each year from October 15 to December 7.

However, if you lose your current creditable prescription drug coverage with BGSU, through no fault of your own, you will also be eligible for a two (2) month Special Enrollment Period (SEP) to join a Medicare drug plan.

What Happens to Your Current BGSU Prescription Drug Coverage If You Decide to Join a Medicare Drug Plan?

If you are an active faculty and or staff member and or an eligible dependent of an active faculty and or staff member covered under the BGSU prescription drug plan and decide to join a Medicare Part D drug plan, your current BGSU prescription drug coverage through CVS Caremark will not be affected. Medicare pays secondary.

If you decide to join a Medicare drug plan and drop your current medical and prescription drug coverage, be aware that you and your dependents may not be able to get this coverage back until the next open enrollment period.

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 BGSU and don’t enroll in Medicare prescription drug plan within 63 continuous days after your current coverage ends, you may pay a higher premium (a penalty) to join a Medicare prescription drug plan later.

If you go 63 continuous days or longer without creditable prescription drug coverage, your monthly premium may go up at least 1% of the Medicare base beneficiary premium per month for every month that you did not have coverage.

For example, if you go 19 months without creditable coverage, your Medicare prescription drug premium may consistently be at least 19% higher than the Medicare base beneficiary premium. You may have to pay this higher premium as long as you have Medicare prescription drug coverage. In addition, you may have to wait until the following October to enroll.

If you retire from Bowling Green State University and are covered under a State Retirement System and eligible for prescription drug coverage with that system, you will want to carefully read the State Retirement Systems information regarding Medicare Part D and their prescription drug coverage plan.

For More Information about This Notice of Your Prescription Drug Coverage…Contact the person below for further information. Note: You’ll get this notice each year. You will also receive this notice before the next period you can join a Medicare drug plan, and if this coverage through BGSU changes. You may also request a copy of this notice at any time by contacting the Office of Human Resources at 419-372-8421.

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 will get a copy of the handbook in the mail every year from Medicare if you have Medicare Part A or B. You may also be contacted directly by Medicare prescription drug plans.

For more information about Medicare prescription drug coverage:

• Visit www.medicare.gov
• Call your State Health Insurance Assistance Program (see the inside back cover of your copy of the “Medicare & You” handbook for the telephone number) for personalized help
• Call 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048.

For people with limited income and resources, extra help to pay for a Medicare prescription drug plan is available. For information about this extra help, visit Social Security Administration on the web at www.socialsecurity.gov or call them at 1-800-772-1213 (TTY users should call 1-800-325-0778).