- Posted by Scott Wham
- On September 24, 2015
The Centers for Medicare and Medicaid (CMS) require that employers disclose the creditable coverage status of their prescription drug plan to employees and their families who are eligible for Part D Medicare benefits every year. This notice must be provided for the first time when the employee initially enrolls in the plan and annually thereafter. This notice provides the employee with important information to assist them in choosing whether to enroll in a Part D plan during the annual Medicare open enrollment period.
The Medicare open enrollment period runs from October 15 to December 7, 2015. Therefore, the notice for must be distributed prior to October 15. The model notices are available in PDF format at https://www.cms.gov/Medicare/Prescription-Drug-Coverage/CreditableCoverage/Model-Notice-Letters.html.
If you have questions concerning the creditable coverage status of your plan, please contact your dedicated Employee Benefits Consultant.
Additional Creditable Coverage Reporting
In addition to the annual creditable coverage disclosure to employees, CMS also requires group health plans to report the creditable coverage status of their plan to CMS within 60 days after the beginning of the plan year or within 60 days of any change in the creditable coverage status of the plan. This reporting is completed online using the Creditable Coverage Disclosure Form, which can be found along with instructions at: https://www.cms.gov/Medicare/Prescription-Drug-Coverage/CreditableCoverage/CCDisclosure.html.