Medicare Part D Creditable Coverage Notice and Disclosure
The Medicare Modernization Act (MMA) requires entities (whose policies include prescription drug coverage) to notify Medicare eligible policyholders whether their prescription drug coverage is creditable coverage, which means that the coverage is expected to pay on average as much as the standard Medicare prescription drug coverage.
For these entities, there are two disclosure requirements:
The first disclosure requirement is to provide a written disclosure notice to all Medicare eligible individuals annually who are covered under its prescription drug plan, prior to October 15th each year. This disclosure must be provided to Medicare eligible active working individuals and their dependents, Medicare eligible COBRA individuals and their dependents, Medicare eligible disabled individuals covered under your prescription drug plan and any retirees and their dependents. ProSource, our COBRA administrator, will distribute Creditable Coverage Disclosure notices to Medicare eligible COBRA participants.
The following notice can be updated with your school name and contact information. To personalize the notice you can use the highlighted portion at the bottom. Personalizing the notices is optional. Therefore if you chose not to personalize the notice simply delete the highlighted portion from your notice.
Please contact EBS if you are a member and would like an editable version of this document.
MODEL INDIVIDUAL CREDITABLE COVERAGE DISCLOSURE NOTICE LANGUAGE
FOR USE ON OR AFTER APRIL 1, 2011
The second disclosure requirement is for entities to complete the Online Disclosure to CMS Form to report the creditable coverage status of their prescription drug plan. The Disclosure should be completed annually no later than 60 days from the beginning of a plan year. This year’s notice will be due March 1, 2013.