October 10, 2016
Medicare Part D Notices to Employees due dates are right around the corner and we don’t want you to miss these important deadlines!
In preparation for the Medicare fall open enrollment period, employers sponsoring group health plans that include prescription drug coverage are required to provide written notification to all Medicare-eligible individuals whether such coverage is creditable by October 14, 2016.
Creditable coverage means that the coverage is expected to pay (on average) as much as the standard Medicare prescription drug coverage. The written notice must be provided annually prior to October 15 (and at various other times throughout the year as required by law) to the following individuals:
- Medicare-eligible active working individuals and their dependents (including a Medicare-eligible individual when he or she joins the plan)
- Medicare-eligible COBRA individuals and their dependents
- Medicare-eligible disabled individuals covered under an employer’s prescription drug plan
- Any retirees and their dependents
In addition to the written notice, employers are also required to complete an online disclosure to report the creditable coverage status of their prescription drug plans. This online disclosure is required annually, no later than 60 days from the beginning of a plan year.
To download a sample written notice, access the online disclosure and learn more about this requirement, please visit the Centers for Medicare and Medicaid Services website.