People With Medicare
Company-Sponsored Discount Card
What happens to my coverage?
Some company-sponsored prescription discount cards may still work, even though the Medicare Prescription Drug Coverage has started.
What should I do?
- Sign up for Medicare Prescription Drug Coverage.
- Check with your company-sponsored discount card provider. Ask if your card is still good.
- Remember that discount cards are not considered to be “as good as” the Medicare Prescription Drug Plans. So you still need to sign up for the Medicare Prescription Drug Coverage. If you keep only a discount card now and you decide to join a Medicare drug plan later, you will have to pay a penalty. You will pay higher monthly premiums for the rest of the time you have the Medicare Prescription Drug Coverage. Consider joining a Medicare drug plan as soon as you become eligible so that you pay a smaller penalty.