Each year, group health plan sponsors that provide prescription drug coverage to individuals eligible for Medicare Part D must disclose to the Centers for Medicare & Medicaid Services (CMS) whether that coverage is “creditable” or “non-creditable.” Calendar year plans are required to submit this year’s disclosures to CMS by February 29, 2016. This disclosure is required whether the health plan’s coverage is primary or secondary to Medicare, and the obligation applies to all plan sponsors providing prescription drug coverage, even those that do not offer prescriptions drug coverage to retirees.
Plan sponsors are required to use the online disclosure form on the CMS Creditable Coverage webpage.
The disclosure form lists required data that must be input in order to generate the disclosure notice to CMS, such as types of coverage, number of options offered, creditable coverage status, number of Part D eligible individuals covered, period covered by the disclosure notice, date the creditable coverage disclosure notice is provided to Part D eligible individuals, and change in creditable coverage status.
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For assistance with this or with any Benefits-related services, contact your KMA HR Consultant.