IBA Group Insurance Trust - Trust Topics member newsletter

October 28, 2009

 
Medicare Part D Creditable Coverage 
 
  
The Medicare Modernization Act (MMA) requires that you notify all Medicare-eligible individuals and indicate whether or not the IBA Group Insurance Trust health plan provides "creditable coverage."  To qualify as "creditable coverage" the prescription drug coverage must be on average as good as Medicare Part D.   
 
Principal Life Insurance Company has determined that our plan provides "creditable coverage."
 
Principal has included this and other information pertinent to Medicare Part D in a Cover Letter and Disclosure Notice, which can be accessed through the links on the right.    
 
ACTION REQUIRED
  1. Review the Medicare Part D Cover Letter.
  2. Copy and distribute the Medicare Part D Disclosure Notice to all current and future employees covered under your plan, including those on state or federal continuation coverage.
  3. Complete the distribution before November 15, 2009.
  4. Print additional copies of the Disclosure Notice to provide to employees upon request and if you become aware of an individual becoming Medicare-eligible. 
The IBA Group Insurance Trust - Benefits you can bank on.

  Resources


Why Is this Notice Important?

Medicare-eligible individuals have the opportunity to enroll in Part D every year.  The information contained in the Disclosure Notice allows them to make an informed decision about this enrollment.   

Therefore, it is important that everyone receive the Disclosure Notice prior to the Part D enrollment date of November 15th.



Questions ?
If you have any questions, please contact Carol Jobe.
 
Phone:  800-331-3287, Ext. 43812