Each year, sponsors of group health plans are required to indicate to the Centers for Medicare & Medicaid Services (CMS) whether their plan’s prescription drug coverage is creditable or non-creditable. This applies when an employer’s group health plan covers individuals who are eligible for Medicare Part D. This online disclosure must be completed within 60 days of the beginning of the plan year. For calendar year plans, this is due by March 1. This “Compliance Bulletin” provides useful links and resources to assist with this process.
Contact your Cowden representative for more information on this or other compliance issues.