Reminder: Required Medicare Part D Notice for Your Employees by Oct. 15, 2020

by | Sep 15, 2020 | Business, Employee Benefits

It’s that time of year again! We want to make sure that all of our valued clients and friends are aware and have access to this required form, which must be provided to any of your employees who are eligible for Medicare Part D by no later than Thursday, October 15th.

What is this about? Well - the Medicare Modernization Act of 2003 requires that all employers who offer prescription drug coverage (which is included in *almost* every medical plan you offer, so Yes this means you) must provide an annual notice to all Medicare Part D eligible individuals who are participants in, or eligible for, the Employer’s coverage receive notification of whether the coverage offered is ‘creditable’ or ‘non-creditable’.

‘Creditable’ means: The coverage offered by the Employer plan covers as much (if not more than) the standard Medicare prescription drug coverage.

‘Non-creditable’ means: The coverage offered by the Employer plan covers less than the standard Medicare prescription drug coverage.

So, which Model Notice do we use from that site? The Model Creditable Coverage Disclosure Notice. **UNLESS** you have a Medicare-eligible individual on a high deductible H.S.A. compatible plan. In that case you would use the Model Non-Creditable Coverage Disclosure Notice.

Remember: This must be provided to your Medicare Part D eligible employees by Thursday, October 15th!

Questions? Call us toll-free at (800) 800-5880
Or, contact your United Agencies Advisor or Account Manager.

You may also Contact Josh Sommerville, VP Employee Benefits for additional assistance.

Thank you for reading!


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