Notice to all employers who sponsor group health plans that offer prescription drug coverage to Medicare-eligible individuals:
You must provide a Medicare Part D Creditable or Non-Creditable Coverage Notice to those individuals before October 15.
These notices inform Medicare-eligible individuals whether the plan’s prescription drug coverage is expected to pay, on average, as much as the standard Medicare prescription drug coverage. A drug plan is credible if it:
- Provides coverage for brand and generic prescriptions
- Provides reasonable access to retail pharmacies
- Is designed to pay on average at least 60% of participants’ prescription drugs expenses
The notices may be provided in annual enrollment materials, separate mailings or electronically.