Description

Within 60 days of the start of each plan year, employers must submit an online form to CMS indicating whether their health plan’s prescription drug coverage is creditable or noncreditable. Prescription drug coverage is considered creditable if its actuarial value equals or exceeds the actuarial value of the Medicare Part D prescription drug coverage. This disclosure requirement applies when an employer-sponsored group health plan provides prescription drug coverage to individuals who are eligible for coverage under Medicare Part D.