My understanding is that Medicare requires that the only drug plan allowed for Medicare participants is the Plan D benefits. Yet some employers still allow retirees over 65 to continue participating in their health plan which can have very attractive drug benefits - much more so than the Plan D.
I assume there is some exception in Medicare for this. Does anyone know the specifics?
If your employer/union prescription plan has been judged equal or better than Part D (the Medicare word is creditable) then you may continue in that plan and not pay a penalty should you later join Part D. Your employer/union plan will have a statement in it about equivalence to Part D.
The booklet Medicare and You (mailed to Medicare recipients and available at medicare.gov) has more details on page 71
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