The Medicare Modernization Act (MMA) requires employers whose policies include prescription drug coverage to provide a written disclosure notice to all Medicare eligible policyholders of whether such coverage is creditable. Creditable coverage means that the coverage is expected to pay, on average, as much as the standard Medicare prescription drug coverage.
This disclosure must be provided prior to October 15th, 2016 (and at various times as stated in the regulations) to:
Please see the attached Model notices available for distribution.
Additional Disclosure Requirements
Under the law, employers must also complete an online disclosure to CMS to report the creditable coverage status of their prescription drug plan at certain intervals.
The disclosure submission process is composed of the following steps to complete the online Creditable Coverage Disclosure Form available via the following link:
Disclosure to CMS Instructions:
Step 1 -Enter the Disclosure Information
Step 2 -Verify and Submit Disclosure Information, and
Step 3 -Receive Submission Confirmation
Please see the attached ‘Disclosure to CMS Instructions’ for further information on completing the online Creditable Coverage Disclosure form.