Employers supporting a group health plan, whether through insurance or self-insurance, are required to communicate the creditable or non-creditable status of the plan’s prescription drug coverage to the Centers for Medicare and Medicaid Services (CMS). This reporting is facilitated through access to CMS’s online reporting system here. To comply with regulations and maintain transparency, follow these key points: Access CMS Online Reporting: Employers (insured or self-insured) should use CMS’s online system to report prescription drug coverage details. Key Deadlines: 1.Within 60 days after the plan year starts. 2.Within 30 days after prescription drug plan termination. 3.Within 30 days after any creditable coverage status change. Example Deadline: For a calendar year… Read More
Continue ReadingOpen Enrollment 2023: Key Reminders and Deadline
Are you ready for Open Enrollment? If not, don’t worry – we’ve got you covered with all the key information you need to make the most of this opportunity to secure health coverage for you and your loved ones. Open Enrollment for 2023 is just around the corner, beginning on November 1. However, it’s crucial to mark your calendars with the DEADLINE REMINDER: December 15th is the last day to enroll for coverage that kicks in on January 1st. For current Pennie customers, here are some important reminders: For those who are potential Pennie customers, here’s what you need to know: Why choose Pennie for your health coverage? Pennie offers… Read More
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