It depends on your retiree insurance. Whether or not you can have the Medicare prescription drug benefit (Part D) in addition to your retiree coverage depends on your retiree plan. Check with your plan.

  • If your retiree coverage will fill in the gaps in Medicare’s drug coverage, you can keep it and buy Medicare drug coverage as well. You will still have to eventually spend $5,000 (in 2018) dollars out-of-pocket for Medicare covered drugs before the more substantial Medicare coverage begins – catastrophic coverage.

Whether or not you should enroll in the Medicare drug benefit in addition to your retiree coverage depends on the quality of your retiree benefits, and whether or not your retiree coverage will work with the Medicare drug benefit.