Medicare Part D Assistance
Creditable Coverage Notice Requirement
Under the Medicare Modernization Act of 2003, you are required by the Centers for Medicare and Medicaid Services (CMS) to notify your Medicare eligible employees and retirees, their spouses and dependents annually of the creditable coverage status of your prescription drug plan ( s ) . To assist you, MIIA has included a SAMPLE Creditable Coverage Disclosure Notice below.
This Notice should be provided to all Medicare eligible individuals covered under your prescription drug coverage. For example, these individuals could be on your active plans in some cases, disabled, on COBRA or retired. To be certain that the Notice reaches spouses and dependents who may be Medicare eligible, the Notice should be sent to all employees and retirees.
Many groups use their open enrollment timeframe to send out the Notice. However, the Notice must be received no later than October 15th each year. It should also be provided by the employer to any Medicare eligible employee and/or retiree , spouse or dependent who is new to a plan or changes plans. It is essential that the employer provide this Notice to plan participants at these times and also upon request. If a plan participant does not have a Notice and then attempts to elect a Part D plan at another time, the participant may be subject to a late enrollment premium penalty.
Please keep copies of the Notice provided on file as a plan participant could request it from the employer at any time. If you have any questions, please contact Monica Smigliani 1-800-374-4405, x264 or Chris Bailey at x268.
Medicare Modernization Act and Creditable Coverage Background
What is the Medicare Modernization Act (MMA)?