Just retired? Don't panic - your drug coverage is still intact

Oct 1, 2009 5:38 PM

If you are one of this year’s many retirees, the Welfare Fund wants to remind you that you can continue to use the Fund’s prescription drug program during the month you retire as well as for an additional two months.

Prescription drug coverage is provided by the Fund only for in-service members. Retirees are covered by optional riders they purchase from their health plans. But sometimes it takes a while for health insurers to catch up with the new retirees.

Therefore, a few years ago the Welfare Fund’s trustees voted to continue drug coverage during the changeover period in order to keep this protection in place for members.

So, for example, if you retired in September, you may continue to use your Medco/UFT Welfare Fund prescription ID card at pharmacies and the home delivery service until Nov. 30.

It is important to note that once the three months have expired retirees should only use their new health plan ID and remind their pharmacist of the change. Retirees will have to reimburse the Fund for prescriptions obtained through the in-service plan.

In addition, the Fund also provides a reimbursement to defray the cost of the optional rider that retirees buy from their health plans. That reimbursement is now up to $660 and it is sent automatically each year to eligible retirees.

At the same time, retirees continue to receive dental, optical and other benefits from the Welfare Fund.