Employers sponsoring a group health plan need to report information on the creditable status of the plan’s prescription drug coverage to CMS within 60 days after the beginning of the plan year. An employer with a calendar year plan must complete this reporting no later than Saturday, February 29, 2020.
Employers sponsoring a group health plan need to report information on the creditable status of the plan’s prescription drug coverage to the Centers for Medicare and Medicaid Services (CMS). In order to provide this information, employers must access CMS’s online reporting system at: https://www.cms.gov/Medicare/Prescription-Drug-Coverage/CreditableCoverage/CCDisclosureForm.html.
As a reminder, notice must be provided by the following deadlines:
• Within 60 days after the beginning date of the plan year;
• Within 30 days after the termination of the prescription drug plan; and
• Within 30 days after any change in the creditable coverage status of the prescription drug plan.
An employer with a calendar year plan (January 1 – December 31, 2020) must complete this reporting no later than Saturday, February 29, 2020. Additional guidance on completing the form, including screen shots, is available at:
https://www.cms.gov/Medicare/Prescription-Drug-Coverage/CreditableCoverage/CCDisclosure.html.
As always please contact your Total Benefit Solutions benefit specialist at (215)355-2121.