It is that time of the year again when the annual Notice of Creditable Coverage as required under Medicare Part D must be distributed by Employers.
The notice informs participants if the prescription drug coverage offered under the Employer's group health plan is considered "creditable" or "non-creditable" coverage.
Employers who sponsor a health plan that includes prescription drug benefits must provide the annual notice to all Medicare-eligible participants. The notice will explain whether or not the prescription drug benefits offered under the group health plan are at least as good as the benefits offered under the Medicare Part D plan.
The Notice of Credible Coverage must be provided:
CMS (The Centers for Medicare and Medicaid Services) has posted forms and instructions for providing this notice. Forms are available in English and Spanish.
To access more information on this subject, please click on the link below:
To access the notices, please click on the link below:
Important Note for Employers!
Employers must provide a disclosure to CMS on an annual basis, via an online form, reporting whether their prescription drug coverage is creditable or non-creditable. CMS requires that the disclosure be provided within:
Information regarding the Employer's Disclosure to CMS can be found by clicking on the link below: