What happens if a PSHB employee covered by EGWP signs up for Medicare Part D?

Title: What happens if a PSHB employee covered by EGWP signs up for Medicare Part D?

Article Snip: "If a PSHB employee covered by an Employer Group Waiver Plan (EGWP) signs up for a separate Medicare Part D plan, they are essentially double-paying for prescription drug coverage, as their EGWP through PSHB already provides that coverage; they should contact their PSHB plan to potentially opt out of the EGWP and enroll in their chosen Part D plan instead, but be aware that doing so could result in a gap in coverage and potential late enrollment penalties depending on their situation.
Key points to remember:

Redundant coverage:
When a PSHB employee is already covered by the EGWP, enrolling in a separate Part D plan means they are paying for prescription drug coverage twice.

Opting out of EGWP:
If a PSHB employee wants to switch to a different Part D plan, they should contact their PSHB plan to properly opt out of the EGWP and enroll in their chosen plan.
Potential penalties:
Depending on the circumstances, opting out of the EGWP without enrolling in another Part D plan could lead to a late enrollment penalty when they try to enroll later.

"

Reference: AI Generated Referencing OPM.GOV
Medicare Part D,Medicare Part D vs. PSHB Part D Employer Group Waiver Plan (EGWP),EGWP,

---

---

There’s a catch in USPS insurance program for Medicare-eligible retirees

Title: There’s a catch in USPS insurance program for Medicare-eligible retirees

Article Snip: "As preparations ramp up to launch a new health insurance program for the Postal Service, the Office of Personnel Management is anticipating the possibility that some USPS annuitants will opt out of Medicare prescription drug coverage without realizing the full consequences. For USPS employees and annuitants, Open Season will look somewhat different this fall. In tandem with the standard open enrollment period for participants in the existing Federal Employees Health Benefits (FEHB) program, all USPS employees, annuitants and their family members will have to switch into the new Postal Service Health Benefits (PSHB) program. ...USPS annuitants who opt out of Medicare Part D will lose underlying prescription drug coverage, according to OPM's regulations. ..."

Reference: federalnewsnetwork.com
Postal Service Health Benefits (PSHB),Medicare,Medicare Part D, Drug Coverage, Retirees (Postal),

---

---

CMS.GOV | 2024 Medicare Parts A & B Premiums and Deductibles

Title: 2024 Medicare Parts A & B Premiums and Deductibles

Article Snip: "...On October 12, 2023, the Centers for Medicare & Medicaid Services (CMS) released the 2024 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2024 Medicare Part D income-related monthly adjustment amounts. ...Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $174.70 for 2024, an increase of $9.80 from $164.90 in 2023. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. "

Reference: www.cms.gov
2024,Medicare,Reading,Education,

---

---