Question 6
Answer:
Since you are just becoming Medicare eligible, this is the time when you can enroll in the “Unlimited” Retiree Prescription Drug Plan. You can choose the “Capped” Plan, however, in doing so, you will lose your eligibility for the “Unlimited” plan in the future. You must elect the “Unlimited” plan when you first become eligible. If you waive the “Unlimited” plan for a qualifying reason, you can defer your enrollment into the “Unlimited” plan to a later date. One example of a qualifying reason would be if your spouse is working and you are covered as a dependent under your spouse’s employer plan or if you are working for another employer and covered under that employer’s benefit plan. If that is the case, you can defer your eligibility until such time that you lose that employer coverage.