It’s that time of year again! By November 15th, you are required to give notice to employees, retirees and COBRA participants regarding the Creditability of your health plan’s Rx benefit.
Once complete, you then are required to register online with the Centers for Medicare and Medicaid Services (CMS). As of 2006, Medicare offers a Part D prescription drug benefit to eligible Medicare individuals (Medicare Beneficiaries).
The following link to our documentation, created by our ERISA attorney, explains these regulation. This is only for your reading pleasure. For our current clients, we will email you the specific steps for your organization.