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Greetings!
MacCorkle Insurance Service is pleased to provide you with this update - we hope you find the presented topic both interesting and informative. Please look for future editions providing the HR professional with compliance and legislative briefs throughout the year.
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Medicare Part D, Common Questions - Notification Requirements
Employers who offer prescription drug coverage to active or retired employees who are eligible for Medicare, or their spouses/dependents, must notify each Part D Eligible Individual who is enrolled in or seeks to enroll in such coverage whether the coverage qualifies as Creditable Coverage under the Part D rules. If the coverage is not creditable, the notice must explain that there are limits on when the individual may enroll in a Part D plan during a year,  and that he or she may be subject to a lifetime late enrollment penalty under Part D.
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Creditable Coverage Disclosure Notices Due by October 14
Under the Medicare Prescription Drug, Improvement and Modernization Act of 2003, group health plans - or entities that offer prescription drug coverage on a group basis to active and retired employees and to Medicare Part D eligible individuals - must provide, or arrange to provide, a notice of creditable or non-creditable prescription drug coverage. ...read more.
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