The Departments Give Plan Sponsors a Christmas Present on the Prescription Drug Data Collection (RxDC) Reporting Deadline
By: Lyndsey Barnett and Michaela Taylor*
On December 23, the Departments of Labor, Health and Human Services, and the Treasury (the “Departments”), issued a new FAQ granting flexibility for plans and issuers ahead of the December 27th Prescription Drug Data Collection (RxDC) reporting deadline.
Recognizing the significant operational challenges in complying with these reporting requirements the Departments have determined that for the 2020 and 2021 data submissions that are due by December 27, 2022, enforcement action will not be taken against any plan or issuer that uses a good faith, reasonable interpretation of the regulations and RxDC Reporting Instructions in making its submission.
The Departments will also provide a submission grace period through January 31, 2023, and will not consider a plan or issuer to be out of compliance with these requirements provided that a good faith submission of 2020 and 2021 data is made on or before that date.
In addition to these updates, the FAQ provides clarifications and flexibilities for certain reporting requirements including the aggregation restriction and multiple reporting entities rules. The FAQs can be found here.
While these new FAQs provide some clarifications and relief, plans should continue to work in good faith to comply with all reporting requirements. If you have questions or need assistance with RxDC Reporting, or other CAA Transparency rules, please contact any of the Graydon employee benefits team.
*Michaela Taylor is a law clerk and is not yet licensed to practice law.