MEDICARE PART D NOTICE OF CREDITABLE COVERAGE
November 15th is rapidly approaching! Plan sponsors are required to provide Notice of Creditable (or Non-Creditable) Coverage to their employees and their covered dependents that are Medicare-eligible. Individuals can enroll when they first become eligible for Medicare or each year from November 15th through December 31st.
WHERE DO I GET THE FORM?
At Corporate Synergies, we make it our business to keep our clients informed about the latest developments in the healthcare industry. Linked as a Word document, you will find the up-to-date Notice of Medicare Part D Creditable Coverage Form that you need to have in the employees’ hands by the November 15th deadline. The areas that you need to customize have been highlighted in red to have it easy to insert specific information about your plan. Additional notices can be found on the CMS website by clicking HERE.
WHAT THIS MEANS TO YOU AS AN EMPLOYER
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. Under the Part D regulations (42 C.F.R. sec. 423.56(f)), the notice of creditable coverage disclosure must be provided to Part D eligible individuals, at a minimum, at the following times:
- Prior to an individual’s initial enrollment period for Part D;
- Prior to the effective date of enrollment in the entity’s coverage, and upon any change in creditable status;
- Prior to the commencement of the Part D Annual Coordinated Election Period (ACEP) which begins on November 15 of each year; and
- Upon request by the individual.
CMS may release Questions and Answers relating to Creditable Coverage issues from time to time under the Questions link on the CMS website at: http://www.cms.hhs.gov/.
Please don’t delay….the deadline is November 15th!
WANT TO LEARN MORE?
Call Corporate Synergies at 1.866.CSG.1719 or click here to contact us with
any questions regarding the impending deadline or to request assistance with staying compliant.
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