Judy Kamens Compliance Specialist View Bio

To read full disclosure, click here: Medicare Part D Creditable Coverage Notice Requirements

Medicare Part D Notices Due Before October 14, 2024

Employers with group health plans that provide prescription drug coverage must notify Medicare Part D eligible individuals by Oct. 14 of each year about whether the drug coverage is at least as good as the Medicare Part D coverage (in other words, whether their prescription drug coverage is “creditable”).

This notice is important because Medicare beneficiaries who are not covered by creditable prescription drug coverage and who choose not to enroll in Medicare Part D before the end of their initial enrollment period will likely pay higher premiums if they enroll in Medicare Part D at a later date. Thus, although there are no specific penalties associated with this notice requirement, failing to provide the notice may trigger adverse employee relations issues.

The Centers for Medicare and Medicaid Services (CMS) has provided model notices for employers to use.

 

This Legislative Brief is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.