Employers who sponsoring a group health plan, whether they are self-insured or insured, are required to notify the Centers for Medicare and Medicaid Services (CMS) of the creditable (or non-creditable) status of the plan’s prescription drug coverage.
Employers must go to CMS’s online reporting system at https://www.cms.gov/Medicare/Prescription-Drug-Coverage/CreditableCoverage/CCDisclosureForm.html. to provide this information.
Just a friendly reminder that notice needs to be given by the following dates:
• Within 30 days following the prescription drug plan’s termination.
• Within 60 days following the start of each plan year.
• Within 30 days following any modification to the prescription drug plan’s creditable coverage status.
If an employer-sponsored prescription drug plan’s creditable coverage status changes (for example, from creditable to non-creditable, or vice versa), CMS shall be notified within 30 days of the change. For instance, CMS should be informed by January 31, 2025, if a change occurred in relation to January 1, 2025, the plan year.
Have Questions? and want to read more about the changes click Medicare Part D CMS Notification Reminder for more details.
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