Retirees’ cut drug coverage raises ire; explain decision, lawmakers say

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43% of Americans Worry About Doing This in Retirement (image)by Michael R. Wickline

Retirees’ cut drug coverage raises ire; explain decision, lawmakers say | #CornerInsure #Medicare #Healthcare #Retirement | Some state lawmakers are questioning a state board’s decision to discontinue pharmacy benefit coverage for Medicare-member retirees in the state employees health insurance program and force them to purchase that coverage through the Medicare Part D market, starting next year.

The 15-member State and Public School Life and Health Insurance Board adopted this change, among others, during its Aug. 5 meeting to eliminate a projected $49.8 million net loss for the state plan. The changes were projected to produce $28.7 million in net income in 2021.

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