Signing Up for Medicare Part D
You may purchase a Medicare Part D prescription drug plan on the open market without risk of underwriting or preexisting condition exclusions. Medicare administers an annual open enrollment period from Oct. 15 to Dec. 7, during which Medicare participants with Medicare Part A and Part B can sign up for a Part D prescription drug plan. If you miss the open enrollment period, you will also have another chance to sign up for a Medicare Part D prescription drug plan.
If you are disenrolling from TRS-Care – an employer-sponsored group health plan – you may be entitled to a "special" election period for a Medicare Part D prescription drug plan. That special enrollment window begins on Dec. 8, 2017 and ends on Feb. 28, 2018. Medicare Part D prescription drug coverage under this special enrollment can take effect as early as Jan. 1, 2018 if you apply before that date. However, if you don’t purchase Medicare Part D prescription drug coverage before Jan. 1, 2018, it will take effect later and you might experience a gap in coverage. In addition, if you fail to sign up for Part D coverage when initially available, you may experience a late enrollment penalty that will increase your premium for as long as you have your plan.
Purchasing a Medigap policy on the Open Market.
You may be eligible to purchase a Medigap policy on the open market. However, as explained below, your TRS-Care plan may affect your ability to do this.
If you’re currently enrolled in TRS-Care Standard 1, 2, or 3 or TRS-Care Medicare Advantage 3, both Federal and Texas law provide a "guaranteed issue" right for individuals whose coverage (that is supplemental to Medicare) has terminated or ceased to provide benefits. TRS will provide you with a letter in October 2017 indicating that your current coverage is ending. You may be eligible to purchase a new Medigap policy without underwriting or preexisting condition exclusions anytime from the date you receive the October 2017 letter from TRS until March 4, 2018. You must provide the insurer with the letter that TRS issues to you in October 2017 in order to enroll in the Medigap policy on a guaranteed issue basis. If you don’t qualify for the guaranteed issue right or you purchase Medigap coverage after March 4, 2018, you may be denied coverage or be subject to underwriting and preexisting condition exclusions.
If you’re currently enrolled in the TRS-Care Medicare Advantage 2 plan, you may apply for a Medigap policy at any time. However, the Medigap insurance carrier may decline to cover you or you may be subject to underwriting and preexisting condition exclusions because the 2018 TRS-Care Medicare Advantage plan is similar to your current TRS-Care Medicare Advantage 2 and Medicare doesn’t provide for a guaranteed issue period for Medigap policies if you remain eligible for similar coverage after Jan. 1, 2018.