Medicare Part D Creditable or Non-Creditable Disclosure to CMS
The Medicare Modernization Act requires all employers to complete an Online Disclosure to CMS to report the creditable coverage status of their prescription drug plan. The prescription drug coverage is “creditable” if it is expected to pay, on average, as much as the standard Medicare prescription drug coverage (Medicare Part D); otherwise, it is “non-creditable.” The Online Disclosure should be completed annually no later than 60 days from the beginning of the plan year.
- Employers should ensure the Online Disclosure to CMS is completed within 60 days of the start of the plan year. For example, employers with plan years beginning 1/1/2019 should submit their Online Disclosure to CMS no later than 3/1/2019.
- The Online Disclosure can be completed here.
- Once the online disclosure to CMS is completed, it is recommended that you take a screenshot or save the confirmation page for your records.
Sequoia clients: Be on the lookout for an e-mail from your Client Service Manager with the Online Disclosure instructions toward the beginning of your plan year.
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