Medicare Eligible Prescription Drug Benefit

In August of 2022, the Federal government enacted the Inflation Reduction Act. Within this act is a provision to lower drug costs to Medicare eligible citizens. As a result, all employers who provide prescription drug coverage to their Medicare eligible members must meet the criteria set by the Inflation Reduction Act. The Superior Officers Council existing plan for our Medicare eligible’s does not currently meet the criteria being mandated in 2025. Therefore, effective January 1, 2025, the Superior Officers Council is replacing its current drug coverage for all Medicare Eligible members and their Medicare Eligible dependents to an OptumRx Employer Group Waiver Plan (EGWP). An EGWP is a Medicare Part D plan designed for Medicare Eligible retirees and meets the criteria set by the Inflation Reduction Act.