Medicare Part D

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SPECIAL NOTICE!

Please pay attention to this SPECIAL NOTICE regarding CREDITABLE COVERAGE NOTICES!

Employers providing prescription drug coverage to employees or retirees who are eligible for Medicare Part A or B must disclose whether its prescription drug coverage is "creditable". This notification must be provided to Medicare eligible active employees, spouses, disabled dependents, and COBRA continuees before November 15.

The purpose of the 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. Employees who lose creditable coverage have 63 days to make an informed decision about a Medicare Part D plan. The only Medicare Part D open enrollment period begins November 15 and ends December 31 of each year.

If you need assistance in determining Medicare Part D eligible individuals or determining whether or not your prescription drug plans provide "creditable" coverage, please contact our office. In addition, if you need assistance with completion of the creditable coverage notice, please contact us.

Click HERE to Download SAMPLE Forms that you can use for your employees!

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