Call Us 412.395.4000

Image result for medicare part d notices

Medicare Part D Notices

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 requires group health plan sponsors that provide prescription drug coverage, to annually disclose to individuals eligible for Medicare Part D whether the plan's coverage is creditable or non-creditable. This notice is important because Medicare beneficiaries who are not covered by creditable prescription drug coverage and do not enroll in Medicare Part D when first eligible will likely pay higher premiums if they enroll at a later date. Although there are no specific penalties associated with this notice requirement, failing to provide the notice may be detrimental to employees and may cause consequences for employers if an employee does have to pay a higher premium. 

Plan sponsors must provide the annual disclosure notice to Medicare-eligible individuals before Oct. 15, 2018—the start date of the annual enrollment period for Medicare Part D. CMS has provided two model notices for employers to use: 

These model notices are also available in Spanish on CMS’ website. Plan Sponsors should carefully review and customize these notices to ensure they accurately reflect their plan provisions. Disclosure notices must be provided to all Part D eligible individuals who are covered by, or who apply for, the plan’s prescription drug coverage, regardless of whether the prescription drug coverage is primary or secondary to Medicare Part D. The disclosure notice requirement applies to Medicare beneficiaries who are active or retired employees, disabled or on COBRA, as well as Medicare beneficiaries who are covered as a spouse or dependent. To simplify plan administration, we recommend plan sponsors provide the disclosure notice to ALL plan participants.

For specific questions about this notice, please contact your broker.

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier