10.05.2011 Medicare Part D Notice Deadline Approaches
BY: BRYDON M. DEWITT
The deadline for distributing the annual Medicare Part D notice of creditable or non-creditable coverage is arriving a month earlier this year. Employers sponsoring health plans that provide prescription drug benefits must issue the notice to Medicare-eligible participants and beneficiaries before October 15, 2011.
The notice of creditable or non-creditable coverage must be issued to Medicare-eligible participants and beneficiaries before the beginning of the annual Medicare Part D enrollment period. In prior years, the Medicare Part D enrollment period began on November 15. The Medicare Part D enrollment period now begins on October 15. Consequently, this year’s notice of creditable or non-creditable coverage must be issued before October 15.
The notice explains whether the plan’s prescription drug coverage is expected to pay on average as much as the standard Medicare prescription drug coverage.
Updated Centers for Medicare and Medicaid Services model notices may be found at the following address: https://www.cms.gov/CreditableCoverage/.
For more information about this topic, please contact the author or any member of the Williams Mullen Employee Benefits & Executive CompensationTeam.