CREDITABLE COVERAGE LETTER - For those Retirees that are moving to the AT&T/AON Exchange - why you need to keep the creditable coverage letter that you may have recently received from AT&T and what does it mean. As far as the AT&T creditable coverage letter, this is my understanding. When you first go on Medicare you need to get a Medicare Part D drug plan or have other creditable coverage (like employer provided coverage). Later, if you apply for a Medicare Part B plan, you will have to pay a continuous monthly penalty for late application, unless you can prove that you had creditable coverage over the interim years.. Since we are losing our AT&T Drug coverage and will now need to get this coverage through a Medicare Advantage plan or a Medicare part B plan, we may need this letter to prove to the Insurance company that we had creditable coverage and should not have a penalty added to our monthly premium. Hope this helps, see: medicare.gov/part-d/costs/penalty/part-d-late-enrollment-penalty.html Russ
Posted on: Tue, 23 Sep 2014 13:27:25 +0000
Trending Topics
Recently Viewed Topics
© 2015