Medicare Part D Creditable Coverage Notices:

New Date Requirement

Please note there is a  new date requirement for the Creditable Coverage notification for Medicare eligible employees required by the Centers for Medicare and Medicaid Services (CMS)  Plan Sponsors whose plans provide prescription drug coverage to Medicare-eligible active employees and dependents, as well as Medicare-eligible retirees and dependents, are required to disclose both to their Medicare-eligible employees whether their plans qualify as “creditable coverage” or “non-creditable” coverage.  Creditable coverage is defined by CMS as prescription drug coverage with an actuarial value equal to or exceeding the value of standard Medicare Part D coverage.  This disclosure is required whether the coverage you offer is primary or secondary to Medicare. For help in determining if your plan is Creditable please feel free to contact us at 630-236-7300or by email at rrigby@rigbygroup.com

Your creditable coverage notice must be sent out to any Medicare eligible employees or dependants on your health plan by October 15, 2011. For a sample Creditable Coverage Letter click here. You’ll find instructions regarding the timing, manner and form for this important Disclosure Notice at CMS Disclosure Notices. In general, if you provide prescription drug coverage to Medicare eligible members, you are required to provide them a Creditable or Non-Creditable notification by October 15, 2011.

To learn more about Medicare Part D, creditable coverage and your responsibilities as an employer, please visit Part D Overview.

Rigby Group hopes this notice helps with your understanding and compliance.  If you need anything or have any questions please feel free to contact us by phone at 630-236-7300 or by email at rrigby@rigbygroup.com