Small Group News
December 9, 2019
Help your small group clients understand their responsibilities about disclosing prescription drug coverage and creditable coverage status information.
Creditable coverage status reports
The Centers for Medicare & Medicaid Services (CMS) requires employers to notify their Medicare-eligible employees and dependents regarding whether the prescription drug coverage pays, on average as much as the standard Medicare prescription drug coverage.
The following creditable coverage status reports show Premera health plans when compared to Medicare Part D 2020 threshold amounts. Creditable coverage status means that the health plan’s prescription drug coverage, on average, pays the same as standard
Medicare prescription drug coverage.
These new reports are now available:
Disclosure forms
Federal law requires employer groups to notify CMS if their prescription drug coverage for Medicare beneficiaries is creditable. CMS requires employer groups to submit a Creditable Coverage Disclosure form each year or whenever any change is made that could affect whether the drug coverage offered is creditable.
Action you should take
Copy this message to share with your small group clients.
For businesses with 1–50 employees with a small group plan
Dear [CLIENT],
I want to remind you of two important employer actions you should take regarding prescription drug coverage.
- Tell your Medicare-eligible employees: The Centers for Medicare & Medicaid Services (CMS) requires employers to let their Medicare-eligible employees and dependents know whether the prescription drug coverage they have pays on
average as much as the standard Medicare prescription drug coverage.
- Tell CMS about the creditable status of your prescription drug coverage: Federal law requires you to report the creditable status of your prescription drug plan to CMS by submitting a Creditable Coverage Disclosure form each year or whenever any change is made that could affect whether the drug coverage
offered is creditable.
Creditable status of your prescription drug coverage
Creditable coverage means that the health plan’s prescription drug coverage, on average, pays the same as or better than standard Medicare prescription drug coverage.
Creditable coverage status reports
More information
For more information on Medicare Part D Notification and Disclosure to CMS requirements, visit cms.gov for: