In preparation for the Medicare fall open enrollment period, employers sponsoring group health plans that include prescription drug coverage are required to notify all Medicare-eligible individuals whether such coverage is "creditable" (i.e., that the coverage is expected to pay, on average, as much as the standard Medicare prescription drug coverage).
Written Disclosure Requirement
A written disclosure notice must be provided annually, prior to October 15, and at various other times as required under the law, to the following individuals:
Online Disclosure Requirement
Additionally, employers are required to complete an online disclosure to CMS to report the creditable coverage status of their prescription drug plans. This disclosure is also required annually, no later than 60 days from the beginning of a plan year, and at certain other times.
Leave a Reply.
Small Business blog