09/29/2011
Rx creditable coverage determinations for 2012
Federal regulations state that plan sponsors (employer groups) who provide prescription medication coverage to Medicare-eligible individuals must inform those individuals whether their prescription drug coverage is creditable under Medicare Part D's prescription drug coverage rules. This information must be provided to employees who are covered under its prescription drug plan prior to Oct. 15.
We've determined that the creditable coverage status of some products will change for groups with an effective date of Jan. 1, 2012, or later. However, it's been determined that we don't have any groups with a creditable coverage status change for 2012, so no employer mailing is necessary this year.
The 2012 Rx Creditable Coverage Grid for our standard products is posted to the producer and employer websites. The 2011 Creditable Coverage grid will be available through January for reference. In addition, the Creditable Coverage FAQ has been updated to reflect the revised Annual Election Period for 2012 (Oct. 15 - Dec. 7) and is posted to the producer website in the Creditable Coverage section.
Employers must notify the Centers for Medicare & Medicaid Services (CMS) of the creditable coverage status of their prescription plan annually. They must do so 30 days following the effective date of any change in the creditable coverage status of any of their benefits. Visit the CMS website to learn more about the disclosure requirements.
If you have questions, please talk to your Regence Sales contact.
Note: To print a PDF document, you need Adobe® Reader®. Download it now for free.
« Back to Communications
|
