The Medicare Modernization Act provides access to prescription drug coverage to all Medicare-eligible persons under the new Medicare Part D. Your obligation as an employer is to provide all employees, retirees, and continuants with information about your organization’s prescription benefits by October 15, 2022. Employees will use that information to help them formulate their personal decision to determine whether or not they will enroll in Medicare Part D prescription coverage. To assist you in meeting your obligations, please see the following:
Summary of Medicare Prescription Drug Coverages Information regarding Medicare Part D – please feel free to distribute to employees.
Sample Personalized Employee Letters for Notification of Creditable and Non-Creditable Coverage
Timing of Creditable Coverage Disclosure to CMS Form from Entity The Disclosure to CMS Form must be submitted to CMS on an annual basis and upon any change that affects whether the drug coverage is creditable. At a minimum, the Disclosure to CMS Form must be provided at the following times:
For Plan Years that end in 2007 and beyond, the Disclosure to CMS Form must be provided within 60 days after the beginning date of the Plan Year for which the entity is providing the Disclosure to CMS Form;
Within 30 days after the termination of the prescription drug plan; and
Within 30 days after any change in the creditable coverage status of the prescription drug plan.
More detailed information can be found at the Centers for Medicare and Medicaid Services website, cms.gov and medicare.gov.
If you have any questions, please contact your dedicated Ascela Account Manager.