2020 Reports Available for Medicare Part D Creditable Coverage

  • Small Group News
    Published 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.

    1. 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.
    2. 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:

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