30 Second Insurance Tips©

Tip 36- Take Notice Of This Notice

Each year, your Medicare eligible employees (and their dependents) have an opportunity to enroll in a Part D Prescription Drug Plan. For 2011, the start of the election period has been moved up a month to October 15th. Late enrollees face penalties unless they already have “creditable” coverage.

In some cases ‐ when all drug charges are subject to a high deductible ‐ Medicare eligible employees covered under your group plan may also want to buy Part D coverage.

Most insurers will help you with this important compliance requirement. Their communiqués should arrive in your mail within days.

Because ultimately, it’s your responsibility.