Medicare Part D Prescription Drug Coverage Employer Notification Requirement
September 21, 2022
Please be reminded, the Medicare Modernization Act provides access to prescription drug coverage to all Medicare-eligible persons under the new Medicare Part D.
Your obligation as an employer is to provide all employees, retirees, and continuants with information about your organization’s prescription benefits by October 15, 2022. Employees will use that information to help them formulate their personal decision to determine whether or not they will enroll in Medicare Part D prescription coverage.
To assist you in your obligations, enclosed please find the following:
- Medicare Part D Creditable Coverage Guidance for employer reference only
- Sample employee Creditable/Non-Creditable coverage letter (Modify appropriate template to send to all employees):
- Medicare Part D Creditable Coverage Disclosure Notice: Your group prescription drug plan(s) is equal to or better than Medicare Part D
- Medicare Part D Non-Creditable Coverage Disclosure Notice: Your group prescription drug plan(s) is not equal to or better than Medicare Part D
More detailed information can be found at the Centers for Medicare and Medicaid Services website, http://www.cms.gov/.
For additional questions or assistance, please contact your Lyons Employee Benefits service team.
Regards,
Lyons Employee Benefits
