You have to check your prescription drug insurance coverage once you retire. If you are covered by a private insurance plan and are under age 65, you may have to take certain steps.
Coverage under a private employer’s plan before retiring
Some employers or professional groups continue to offer a private insurance plan to their employees or members who are retiring, while others do not. If you are insured under a private plan, you will have to check your situation.
Check whether your current plan covers retirees
If so, you must remain insured under that private plan until you turn 65.
If the plan is not offered to retirees
Check whether you qualify for another private plan, for instance, through:
- a new employer
- your spouse, who is obliged to cover you under it
- a professional group, order, association or union to which you belong
If so, you must join that plan.
If you do not qualify for a private plan
You must register with the Public Prescription Drug Insurance Plan.
Coverage under the public plan before retiring
Are you already covered by the Public Prescription Drug Insurance Plan? If so, you will remain covered by this plan when you retire. You will have nothing to do.
Change of insurer in the course of the year
VAre you changing insurers during the year? If this is case, it is important that you avoid overpaying the maximum annual contribution when purchasing your covered drugs.
Your previous insurer is required to send you a statement of your contributions for the current year. Then, you must forward this statement to your new insurer so that it can keep track of your maximum contribution. To find out more, refer to the webpage Rates in effect.
Proposed document to indicate your contributions
You can use the form Statement of Contributions, if you change from a private plan to the public plan.