Plan sponsors that offer prescription drug coverage must provide notices of creditable or non-creditable coverage to individuals eligible for Medicare before each year’s annual enrollment period for Part D, which runs from October 15 through December 7.
This disclosure must be provided to Medicare-eligible, actively working individuals and their dependents, Medicare-eligible COBRA individuals and their dependents, Medicare-eligible disabled individuals covered under the prescription drug plan, and any retirees and their dependents. Creditable coverage means that the coverage is expected to pay as much as the standard Medicare drug coverage.
The notice must also be provided to Medicare-eligible individuals at the following times:
- Before an individual’s initial enrollment period for Part D
- Before the effective date of coverage for any Medicare-eligible individual who joins an employer plan
- Whenever prescription drug coverage ends or creditable coverage status changes
- Upon the individual’s request
Click here to access model notices and the complete text to the guidance available on the Centers for Medicare and Medicaid website.