Retirees: Quick Tips for What Not To Do When You Are Age 65 or Older
| IF YOU OR YOUR COVERED DEPENDENT ARE AGE 65 OR OLDER AND… | Then |
|---|---|
| You fail to provide your and/or your covered dependent's Part B information directly to SHBP one month prior to you and/or your covered dependent turning Age 65 | You and/or your covered dependent(s) will remain enrolled in a SHBP Commercial (Non-MA) Plan Option (i.e., the Gold, Silver or Bronze HRA; one of the HMOs; or the HDHP) and you will pay 100% of the unsubsidized premium, which is substantially higher than the SHBP Medicare Advantage Plan Options. |
| You fail to provide your and/or your covered dependent's Part B information directly to SHBP one month prior to your retirement if currently working and covered as an active member | You and/or your covered dependent(s) will remain enrolled in a SHBP Commercial (Non-MA) Plan Option (i.e., the Gold, Silver or Bronze HRA; one of the HMOs; or the HDHP) and you will pay 100% of the unsubsidized premium, which is substantially higher than the SHBP Medicare Advantage Plan Options. |
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- You or your covered dependent(s) do not have a physical address on file, - You or your covered dependent(s) enroll in a third-party (non-SHBP) Medicare Part D Plan or Medicare Supplement, or - You or your covered dependent(s) lose Your Medicare |
Your and/or your covered dependent(s) Medicare Advantage with Prescription Drugs (MAPD) coverage under SHBP will be terminated and SHBP will move you to a Commercial (Non-MA) Plan Option (i.e., the Gold, Silver or Bronze HRA; one of the HMOs; or the HDHP) and you will pay 100% of the unsubsidized premium, which is substantially higher than the SHBP Medicare Advantage Plan Options. |
| You or your covered dependent(s) is without Medicare Part B |
You and/or your covered dependent(s) will remain enrolled in or be enrolled in a SHBP Commercial (Non-MA) Plan Option (i.e., the Gold, Silver or Bronze HRA; one of the HMOs; or the HDHP) and you will pay 100% of the unsubsidized premium, which is substantially higher than the SHBP Medicare Advantage Plan Options; ~ OR ~ You or your covered dependent(s) may purchase Part B to enroll in a MAPD option; however, you will be responsible for paying the Late Enrollment Penalty if you are enrolling late in Medicare after your Initial Enrollment Period prescribed by CMS for Medicare Parts A and/or B. |