Your Two Weeks’ Notice

Nick Ziepfel

Health care plan sponsors, we officially provide you our two weeks’ notice…of the due date for your Annual Medicare Part D Creditable Coverage Notification. By October 15 of each year (two weeks from today), employers whose health plans include prescription drug coverage must notify Medicare-eligible employees whether their prescription drug coverage is “creditable coverage.” Coverage is creditable if it is expected to cover, on average, as much as the standard Medicare Part D prescription drug plan. This information is essential to an individual’s decision whether to enroll in a Medicare Part D prescription drug plan during the Oct.15 to Dec. 7 election period. The CMS Creditable Coverage website provides a complete text of the guidance along with sample disclosure notices that can be customized to reflect a plan’s provisions.