Plan sponsors must send an annual Medicare Part D notice to all Medicare-eligible enrollees and dependents before October 15th of each year. This notice describes whether the plan’s prescription drug coverage is considered creditable under the Medicare program. If a plan’s coverage is not considered creditable, enrollees may be subject to a late enrollment penalty if they enroll in a Medicare Part D plan after the initial enrollment period.
Medicare Part D notices are important because they provide enrollees with information about their prescription drug coverage and help them make informed decisions about their coverage. By carefully reviewing their Medicare Part D notices, enrollees can ensure that they are getting the best possible coverage for their needs.
The Center for Medicare and Medicaid Services (CMS) has provided Model Disclosure notices for employers to use. Current HR Works clients may also contact their HR Strategic Partner or the HR Works Virtual HR Helpline with questions about this notice requirement or to obtain a model notice template.