Annual Required Notices regarding Medicare Part D creditable coverage
The Medicare Modernization Act (MMA) requires that plan sponsors that provide policies that include prescription drug coverage to Medicare eligible individuals must meet two separate and distinct annual creditable coverage disclosure requirements. The first disclosure must be provided to Medicare eligible individuals, the second disclosure must be provided to the Centers for Medicare & Medicaid Services (CMS).
- Annual notice to Medicare eligible individuals:
- Annual disclosure to CMS:
Notice must be provided to all Medicare eligible individuals regarding the creditable or non-creditable coverage status of their current prescription drug benefits prior to Oct. 15 of each year and at other times as outlined under 423.56 of the final MMA regulation.
Click here to access a model fillable creditable coverage notice in Word format.
Note: The disclosure notice has not changed, you may use the same notice you sent last year. For your convenience, we have highlighted the areas that you need to either update or delete in red.
The Online Disclosure to CMS Form to report the creditable coverage status of your group’s prescription drug plan must be completed annually no later than 60 days from the beginning of your plan year (contract year, renewal year), within 30 days after termination of a prescription drug plan, or within 30 days after any change in creditable coverage status.
Click here to access the Online Disclosure to CMS Form.
For more information about these annual notices and creditable coverage requirements, click here to go to CMS.gov.
New hire notice of health insurance marketplace coverage options
Section 18B of the Fair Labor Standards Act (FLSA) requires employers to provide each employee, at the time of hire, a written notice:
- Informing the employee of the existence of the Marketplace, including a description of the services provided by the Marketplace, and the manner in which the employee may contact the Marketplace to request assistance;
- If the employer plan’s portion of the total cost of benefits provided under the plan is less than 60 percent of such costs, that the employee may be eligible for a premium tax credit and a cost sharing reduction if the employee purchases a qualified health plan through the Marketplace; and
- If the employee purchases a qualified health plan through the Marketplace, the employee may lose the employer contribution (if any) to any health benefits plan offered by the employer and that all or a portion of such contribution may be excludable from income for Federal income tax purposes.
Click here to access a fillable Marketplace notice in PDF format.
Contact MESSA Group Services at 888-888-4167 with any questions.