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 Post subject: have another question
PostPosted: Thu Nov 20, 2008 1:05 pm 
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Joined: Thu Nov 20, 2008 12:38 pm
Posts: 4
I don't know if this question should be here... but I have a creditable employer retiree drug coverage right now, but the company is folding up. How can I continue my coverage, will there be any penalties for dropping my current coverage?


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 Post subject: Re: have another question
PostPosted: Thu Nov 20, 2008 1:17 pm 
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Joined: Thu Nov 20, 2008 1:07 pm
Posts: 20
You won't have to pay a penalty for your case. However, you must apply for another Medicare drug plan within 60 days after your current coverage ends, since it will be considered involuntary. If you voluntarily drop your current coverage, enroll with another plan within 3 months. After these time periods, you may be required to pay a penalty when you enroll.


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 Post subject: Re: have another question
PostPosted: Thu Nov 20, 2008 10:17 pm 
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Joined: Thu Nov 20, 2008 10:12 pm
Posts: 25
Yes, like most anything with the medicare plans time is of the essence. I have had some terrible problems though my time and most of them could have been resolved by just doing things on time. Procrastination is not a good thing.


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 Post subject: Re: have another question
PostPosted: Tue Nov 25, 2008 1:54 pm 
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Joined: Thu Nov 20, 2008 1:07 pm
Posts: 20
jasonb wrote:
Yes, like most anything with the medicare plans time is of the essence. I have had some terrible problems though my time and most of them could have been resolved by just doing things on time. Procrastination is not a good thing.


I agree. Specially with Medicare and other benefits that you get. PRocessing for disability takes like 3-5 months to get through. And it means that a period of time would lapsed with you being covered.


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 Post subject: Re: have another question
PostPosted: Tue Nov 25, 2008 3:06 pm 
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Joined: Mon Nov 24, 2008 4:19 pm
Posts: 15
darwin wrote:
jasonb wrote:
Yes, like most anything with the medicare plans time is of the essence. I have had some terrible problems though my time and most of them could have been resolved by just doing things on time. Procrastination is not a good thing.


I agree. Specially with Medicare and other benefits that you get. PRocessing for disability takes like 3-5 months to get through. And it means that a period of time would lapsed with you being covered.


UGH! 3-5 months for a retiree. I bet some people die before they get medicare :o


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