- Posted by Scott Wham
- On February 8, 2016
Group health plan sponsors are required to complete an online disclosure form with the Centers for Medicare & Medicaid Services (CMS) on an annual basis and at other select times, indicating whether the plan’s prescription drug coverage is creditable or non-creditable.
The plan sponsor must complete the online disclosure within 60 days after the beginning of the plan year. For example, calendar year health plans are required to complete the annual online disclosure by March 1, 2016.
This disclosure requirement applies when an employer-sponsored group health plan provides prescription drug coverage to individuals who are eligible for coverage under Medicare Part D.
To determine if the CMS reporting requirement applies, employers should verify whether their group health plans cover any Medicare-eligible individuals (including active employees, disabled employees, COBRA participants, retirees, and their covered spouses and dependents) at the start of each plan year.
To read more about the Medicare Part D Disclosures, please click here.
If you have questions regarding Medicare Part D Disclosures, please contact your dedicated Kistler Tiffany Benefits’ Employee Benefits Consultant.