|RETIREE Rx – UNDER AGE 65 – CVS/Caremark effective October 1, 2017 – Must enroll within six months of retirement|
|Co-pays are $40.00 brand and $11.25 generic|
|Mail order provides a 60 day supply for one co-pay|
|Retail: 14 day supply for one co-pay|
|RETIREE Rx – OVER AGE 65 or Enrolled in Medicare – SILVER SCRIPTS MEDICARE, Must enroll within 2 months of retirement in accordance with Medicare regulations|
|Co-pays are $60.00 brand and $15.00 co-pay for 90 day supply|
|Mail order and Retail provide 90 day supply|
|30 day supply: $40 brand and $10 generic|
- Those who retire under a State Early Retirement Plan (30 years of service or more) – no age requirement;
- A person who has retired from a PFT bargaining unit and is at least 65 years of age.
- Approved PSERS Disability Retirement and/or the Health and Welfare Fund’s Long Term Disability benefit.
- A person who has retired from a PFT bargaining unit and is at least age 55 with a combination of age and years of service that equal 65 or more.
Cost is $84 per month, billed on or about January 1 for the 6 month period starting March 1st and on or about July 1 for the 6 month period starting September 1st.
- If you drop out of the plan, you will not be permitted to re-enroll.
To enroll in Retiree Rx Benefits, call the Fund and request a Retiree packet if you have not received one. You will complete the following three (3) forms:
- PHILADELPHIA FEDERATION OF TEACHERS HEALTH AND WELFARE FUND RETIREE BENEFIT APPLICATION.
- RETIREMENT PRESCRIPTION APPLICATION – check the box next to the month that coverage is to begin.
- UNITED CONCORDIA ENROLLMENT FORM – If you want to enroll in the retiree dental plan.
- Return forms, page one (1) of your PSERS estimate, a copy of your current medical card and a check payable to PFT Health & Welfare Fund in the enclosed pre-addressed envelope.
Retirees on the CVS/Caremark Plan who are turning age 65 will be automatically enrolled in the Silver Scripts Medicare Rx. Call the fund if you do not wish to be enrolled.
Be advised that depending on your annual income, Medicare may charge you an income-related monthly adjustment amount (IRMAA). The sliding scale charge is a set of statutory percentage-based tables to adjust Medicare Part B and prescription drug coverage Medicare Part D premiums. The higher the beneficiary’s range of modified adjusted gross income (MAGI), the higher the IRMAA will be. Click here for more information.