January 12, 2023
For producers who sell small and large group business
Help your group clients understand their responsibilities about disclosing prescription drug coverage and creditable coverage status information.
Creditable coverage reports
The Centers for Medicare & Medicaid Services (CMS) require employers to notify their Medicare-eligible employees and dependents regarding whether the prescription drug coverage pays, on average, as much as the standard Medicare prescription drug coverage.
The following creditable coverage status reports show Premera health plans when compared to Medicare Part D 2023 threshold amounts.
These new reports are now available:
2023 Small Group Creditable Coverage Status Report:
For clients with a small group plan that begins in 2023.
2023 Preferred Choice Group Creditable Coverage Status Report:
For clients with a Preferred Choice plan that begins in 2023.
Disclosure forms
Federal law also requires employer groups to notify CMS if their prescription drug coverage for Medicare beneficiaries is creditable. CMS requires employer groups to submit a creditable coverage disclosure form each year or whenever any change is made that could affect whether the drug coverage offered is creditable.