How Medicare Part D will work in upcoming USPS insurance program

Snippet of Article: "...One part of the final regulations, which gained attention from many stakeholders, clarifies how Medicare Part D and prescription drug coverage will function for Medicare-eligible USPS annuitants and family members. According to OPM, PSHB plans are required to integrate Medicare Part D and offer prescription drug coverage to eligible Postal annuitants through what the program calls an “Employer Group Waiver Plan” (EGWP).

During Open Season, all Medicare-eligible Postal retirees will be automatically enrolled in an EGWP through the PSHB program. The EGWP will include prescription drug coverage through Medicare Part D. Individuals who are not eligible for Medicare, such as those living overseas, will get prescription drug benefits through their PSHB plan.

Notably, according to the final rule, Medicare-eligible USPS enrollees who opt out of Part D coverage will lose access to any underlying prescription drug coverage through PSHB. Despite concerns that arose in reaction to the proposed regulations, OPM maintained the same plans it initially proposed for opting out of Part D. ..."

Source: federalnewsnetwork.com

Employer Group Waiver Plan” (EGWP), EGWPs are an alternative to offering traditional Medicare supplemental coverage for retirees, and these plans are a subset of the MA market.

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According to Consumer Reports, the main differences between original Medicare and Medicare Advantage are:

Snippet of Article: "Original Medicare allows you to use any provider that accepts Medicare reimbursement, while Medicare Advantage plans require you to use a local provider network.

You can't buy a Medigap plan if you have Medicare Advantage, but you can buy one if you have original Medicare. Medigap plans cover all or part of original Medicare's deductibles and co-insurance. ..."

Source: AI Generated

Original Medicare vs. Medicare Advantage,

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