Medicare drug subsidy at risk for some firms

Wojcik, Joanne
March 2005
Business Insurance;3/28/2005, Vol. 39 Issue 13, p26
The article informs that employers that plan to continue providing retiree drug benefits need to move fast to make sure their plan members don't sign up for Medicare Part D or they'll risk losing their 28% subsidy for 2006, retiree medical experts warn. The U.S. Centers for Medicaid & Medicare Services will be sending out notices as early as April telling Medicare beneficiaries about the new drug benefit. Some retirees, if they are not made aware that their employer-sponsored plans provide such coverage, may sign up for the new benefit anyway, said Chris Moss, manager of benefits strategy and design at Verizon Communications in Irving, Texas.


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