Cooper has determined that the prescription drug coverage offered to our Medicare eligible retirees is, on average for all participants, as good as or better than the standard Medicare prescription coverage. But of course, deciding whether or not to enroll in a Medicare Part D plan is a personal decision.

If you choose Cooper's prescription drug coverage, you can choose Medicare Part D during a subsequent enrollment period with no penalty. The same is true if you choose a Medicare Part D plan, you can decide to choose Cooper's prescription drug coverage and enroll during a future open enrollment with no penalty. However, you cannot decide to change mid year. Once you have either selected Cooper's prescription drug coverage or opted out, you cannot cancel or enroll except during the open enrollment period in late fall each year.