Part D Creditable Coverage
It’s the Law. We can help.
All Employers are required to provide notice to their Employees as to whether or not their Health Plan’s Prescription Drug coverage is “Creditable” or “Non-Creditable”.
This notice needs to be given to all MEDICARE ELIGIBLE Active Employees, Spouses, Disabled Dependents and COBRA Participants by October 15th of each year.
The purpose of this notice is to provide Medicare Part D Eligible Individuals with sufficient information so that they will not unknowingly be subjected to Part D Late Enrollment Penalties. Without Proof of Creditable Coverage, those eligible for Medicare Part D, who do not enroll when they first become eligible, will owe a “Late Penalty” that is added to all future premiums.
Secondly, each Employer then needs to report to the Center for Medical Services (CMS) whether or not their plan is Creditable.
Below are some sample forms that you can use to notify your employees.
SAMPLE – Letter to Employees (Microsoft Word)
SAMPLE – Medicare D Creditable Coverage Form
SAMPLE – Medicare D Creditable Coverage Form in SPANISH
SAMPLE – Medicare D Non-Creditable Coverage Form
SAMPLE – Medicare D Non-Creditable Coverage Form in SPANISH
Feel free to Contact Us for more information, or if you do not know whether or not your Plan is Creditable.