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Medicare Part D Prescription Drug Plans

Video Transcript

Medicare Part D Prescription Drug Plans

{Voice over}
Rick Tapnio:

An exciting change is taking place. The information in this video is for our retired Aetna Open Access Basic and High option members in Washington, DC, Maryland, and Virginia, enrollment code JN. And retired members nationwide in Aetna Direct, enrollment code N6. When you're retired and enrolled in Medicare, your prescription drug costs could be significantly lower in the year ahead. Hi, my name is Rick Tapnio and I've been part of Aetna and the Federal Employees Health Benefits Program for many years. I'm proud Aetna has been a leader in FEHB to help lower healthcare costs for federal retirees and their families. Currently, we offer two plans designed for federal retirees, and we couldn't be happier about the positive feedback we receive. So for our retired members who are happy with their current plan, we're working to help you save on prescriptions. Before the 2024 plan year, Medicare Part D was not an option available through the FEHB program.

But now, the Office of Personnel Management has worked with health plans to introduce Medicare Part D prescription drug plans. So while a change is happening, the greatest impact for most will be lower copays and less coinsurance coming out of your pocket. Your health plan and rates are not affected by this change, but your prescription plan will now pay more and you'll pay less. If you're a retiree enrolled in Medicare Parts A and B or just Medicare Part A, your prescription drug coverage will become a Medicare Part D plan through Aetna Medicare Rx offered by SilverScript. You'll still be enrolled in the same health plan, but your prescriptions will be covered under Medicare Part D. And before we go any further, this is a great way to help you save. Medicare Part D plans are approved by Medicare and offered by private insurance companies like Aetna to help lower your out-of-pocket costs.

When OPM asked us to provide cost saving Medicare prescription drug coverage, we got to work. We're excited to tell you more about the changes and how you'll be able to save. So let's do a quick overview of what this all means. First, you won't have to do a thing to make this happen. You'll generally pay much lower prescription drug copays and coinsurance. The same drugs are covered. Besides lower copays, the biggest change you'll see is a second ID card for prescriptions. Just show the new ID card when you pick up your prescriptions. The formula list is different, so some drugs could be covered under a different tier. Keep in mind, however, even if drugs move to a higher tier, it doesn't necessarily mean you'll pay more. Manufacturer coupons and copay assist cards can no longer be used, but you should see a savings with the plan alone.

I hope this information about your current plan with new Medicare Part D prescription drug coverage was helpful. We're excited OPM allowed it to be offered through the FEHB program. We're here if you have any questions, so please schedule an appointment at But before we end, two more things. We understand change is not for everyone. If the new Medicare Part D prescription drug plan is not what you want, you can keep the health plans prescription drug benefits. Just call the number on the back of your ID card Monday through Friday, 8:00 AM to 6:00 PM in all time zones. But please carefully review prescription costs to determine if this is the right decision.

And lastly, with a higher income, you could be subject to Part D income related monthly adjustment amount, or Part D IRMAA. Social Security will contact you if you have to pay Part D IRMAA due to your income. While the cost of Medicare Part D is included in the FEHB premium, if you're subject to IRMAA, you could pay more either directly to Medicare or through SSA deductions. See the Medicare website for more information. Please feel free to contact us at and schedule an appointment. We'll contact you at the time you choose, and we'll be happy to answer all your questions.

Thank you.

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