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With a new year upon us, your attention is likely focused on setting financial and productivity goals for your business. As you plan, make sure to look at one area […]
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Medicare Part D Online Disclosure to CMS Due Mar. 1
by Gregg Kennerly | Published Wednesday, February 8, 2017
The Medicare Modernization Act requires employers that provide prescription drug coverage to Medicare-eligible individuals to complete the Online Disclosure Form to the U.S. Centers for Medicare & Medicaid Services (CMS) to report whether such coverage is creditable prescription drug coverage (“creditable coverage”). Creditable coverage is coverage that is expected to pay, on average, as much as the standard Medicare prescription drug coverage.
This disclosure is required annually, no later than 60 days from the beginning of a plan year—typically March 1st for calendar year plans—and at certain other times.
Visit our section on Medicare for more information about how the law affects employer-provided group health plans.