NOTICE OF CREDITABLE COVERAGE
Prescription Drug Information for
College Insurance Program (CIP)
Medicare Eligible Plan Participants
| This notice confirms that your existing prescription drug
coverage through the CIP is on average as good as or better than the
standard Medicare prescription drug coverage (Medicare Part D). You can
keep your existing group prescription coverage and choose not to enroll in
a Medicare Part D Plan. Unless you qualify for low income/extra-help
assistance, you should not enroll in a Medicare Part D Plan.
With this Notice of Creditable Coverage, you will not be penalized if you later decide to enroll in a Medicare prescription drug plan. However, you must remember that if you drop your entire group coverage through CIP and do not enroll in a Medicare Part D Plan after your existing group coverage ends, you may be penalized if you enroll in a Medicare Part D Plan later. If you keep your existing group coverage, it is not necessary to join a Medicare prescription drug plan this year. Remember: Keep this notice |
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