Under Section 204 (of Title II, Division BB) of the Consolidated Appropriations Act, 2021 (CAA), insurance companies and plan sponsors (employers) must submit information about prescription drugs and health care spending. This data submission is called the RxDC report. The Rx stands for Prescription Drug and the DC stands for Data Collection.
The Centers for Medicare and Medicaid Services (CMS) is collecting the RxDC report on behalf of the Departments of Health and Human Services, the Department of Labor, the Department of Treasury, and the Office of Personnel Management.
The insurance carriers will be developing a detailed instruction guide to support employers in creating and uploading the D1 file. The D1 file will include your annual premiums, average monthly enrollment, and average monthly premiums paid by enrolled members (employees plus dependents).
The CMS has also confirmed that they have improved the Health Insurance Oversite System (HIOS) registration process specifically applicable to RxDC Reporting, so that only one person needs to register and be approved to be able to submit the files in HIOS. Here is the link to the registration process: https://www.cms.gov/CCIIO/Resources/Forms-Reports-and-Other-Resources/Downloads/HIOS-Portal-Quick-Guide.pdf.
BFG is committed to assisting our client relationships. We are awaiting the release of the revised RxDC reporting instructions. We will communicate any important updates as they become available.
When is the deadline?
The deadline to submit your data for the 2022 reference year is June 1, 2023. The deadline for subsequent reference years is June 1st of the calendar year immediately following the reference year. A reference year is the calendar year of the data that is in your RxDC report.
Where can I get more information?
You can find more information about RxDC reporting on the CMS website at https://www.cms.gov/cciio/programs-and-initiatives/other-insurance-protections/prescription-drug-data-collection.
As always, please don’t hesitate to reach out to your BFG Corporate Benefits Advisor if we can be of assistance.