Prior to October 15 employers that have (or soon will have) health plan participants (employees or dependents) eligible for Medicare Part D must notify those participants and the CMS (Centers for Medicare and Medicaid Services) about the Medicare Part D creditability status of their prescription drug benefits.. 

Prescription drug plans are considered either 'creditable' or 'not creditable' based on guidelines set up by the CMS. Health plan participants need this information to decide whether or not they want to enroll in Part D.  If they do not enroll in Part D when eligible, and do not have other creditable coverage, they can be subject to a penalty.   Insurance carriers publish a list regarding the status of each plan they offer. If you have any questions about the status of your plan please call us.  

Employers with Medicare Part D eligible members also need to notify the CMS about the status of their prescription drug plans.  The link to their online form is located here. Plans with no Medicare Part D eligible members do not need to complete the disclosure. 

As always, please feel free to contact us with any questions.