Employers sponsoring a group health plan with prescription drug benefits are required to notify their Medicare-eligible participants and beneficiaries as to whether the drug coverage provided under the plan is "creditable" or "non-creditable." The notification contained in the link below must be provided prior to October 15th each year. Also, following the plan's annual renewal, the employer must notify the Centers for Medicare & Medicaid Services ("CMS") of the creditable status of the drug plan.
Attached you will find information that summarizes these requirements in more detail.
As always, should you have any questions or concerns, please feel free to contact a member of the Brooks Financial Group, Inc. Corporate Benefits team.