HEALTH PLAN NOTICES 42 // 2026 Employee Benefit Guide therefore considered Creditable Coverage. Because your existing coverage is Creditable Coverage, you can keep this coverage and not pay a higher premium (a penalty) ifyou later decide to join a Medicare drug plan. When Can You Join a Medicare Drug Plan? You can join a Medicare drug plan when you first become eligible for Medicare and each year from October 15th to December 7th. However, if you lose your current creditable prescription drug coverage, through no fault of your own, you will also be eligible for a two (2) month Special Enrollment Period (SEP) to join a Medicare drug plan. What Happens toYour Current Coverage IfYouDecide to Join a Medicare DrugPlan? Your current coverage pays for other health expenses, in addition to prescription drugs. If you are actively employed and decide to join a Medicare drug plan, your current medical coverage will not be affected; you can keep this coverage if you elect part D and this plan will coordinate with Part D coverage. If you are actively employed and you decide to join a Medicare drug plan and drop your current medical coverage, be aware that you and your dependents may be able to get this coverage back at the next open enrollment period or upon a qualifying status change if you remain otherwise eligible to enroll in the Plan. If you are no longer actively employed and you decide to join a Medicare drug plan and drop your current coverage, be aware that you and your dependents will not be able to get this coverageback.