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Hercules Incorporated
Important Notice From Hercules
Incorporated About Please read this notice carefully, and keep it where you can find it. This notice has information about your current prescription drug coverage with Hercules Incorporated and new prescription drug coverage available soon for people with Medicare. It also tells you where to find more information to help you make decisions about your prescription drug coverage.
You may have heard about Medicare’s new prescription drug coverage, and wondered how it would affect you. Starting January 1, 2006, prescription drug coverage will be available to everyone with Medicare through Medicare prescription drug plans. All Medicare prescription drug coverage will provide at least a standard level of coverage set by Medicare. Some plans might also offer more coverage for a higher monthly premium. You will want to consider enrolling in Medicare prescription drug coverage. Because the coverage you have with HGHPSM is on average for all plan participants, NOT expected to pay out as much as the standard Medicare prescription drug coverage will pay and will therefore be eliminated, you will want to consider enrolling in a Medicare prescription drug plan. You can first join between November 15, 2005 and May 15, 2006. This is important, because if you do not get Medicare prescription drug coverage (or equivalent coverage) before May 15, 2006, you may have to pay a higher premium if you join later. You will pay that higher premium as long as you have Medicare prescription drug coverage. If you don’t enroll in Medicare
prescription drug coverage by May 15, 2006 If you wait until after May 15, 2006, to enroll, your monthly premium for a Medicare prescription drug plan could be much higher than it would have been if you had enrolled by May 15. If, after May 15, 2006, you go 63 days or longer without prescription drug coverage that is at least as good as Medicare’s prescription drug coverage, your premium will go up at least 1% per month for every month after May 15, 2006 that you did not have that coverage. You will have to pay this higher premium as long as you have Medicare prescription drug coverage. For example, if you go nineteen months without coverage, your premium will always be at least 19% higher than what most other people pay. If you don’t enroll in a Medicare
prescription drug plan by Generally, after May 15, 2006, you can
only join a Medicare prescription drug plan between November 15 and
December 31 of any year. This may mean the number of months you have
to wait for coverage will be longer, which could make your premium
higher. You need to make a decision. For
more information about this notice or When you make your decision, you should
also compare your current coverage, including which drugs are
covered, with the coverage and cost of the plans offering Medicare
prescription drug coverage in your area. For more information about your
options under More detailed information about Medicare plans that offer prescription drug coverage will be available in October 2005 through the “Medicare & You 2006” handbook from Medicare. You may also be contacted directly by Medicare-approved prescription drug plans (“PDP”). You’ll get a copy of the handbook in the mail. You can also get more information about Medicare prescription drug plans from these places:
For people with limited income and resources, extra help paying for a Medicare prescription drug plan is available. Information about this extra help is available from the Social Security Administration (SSA). For more information about this extra help, visit SSA online at www.socialsecurity.gov, or call them at 1-800-772-1213 (TTY 1-800-325-0778). ***** Date: August 26, 2005 |
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