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Pension and Employee Benefits: Code, ERISA, & Regulations
Authoritative and comprehensive reference to pension and selected welfare benefit provisions of the I.R.C., ERISA and the associated regulatory authority.
From Spencer’s Benefits Reports: Employers and unions that sponsor a health care plan with prescription drug benefits have until November 15 to provide the annual notice of Medicare Part D prescription drug benefit creditable coverage to all their Medicare-eligible participants. The annual notice must disclose to Medicare-eligible plan participants whether or not the group health plan’s prescription drug benefits are at least as good as the benefits offered under the Medicare Part D plan.
The annual disclosure to Medicare Part D-eligible group health plan participants is required by November 15 each year to allow these participants to determine whether or not they need to enroll in Part D during the Medicare annual enrollment period that runs from November 15 through December 31 each year.
On its Web site, the Centers for Medicare and Medicaid Services (CMS) provides standard forms, in English and Spanish, that group health plan sponsors may use for the required notices. The CMS guidance on creditable coverage and disclosure is available at http://www.cms.hhs.gov/CreditableCoverage/. Group health plan sponsors that provide prescription drug coverage to Medicare Part D-eligible participants must report to the CMS whether or not the plan’s drug coverage is creditable coverage. The CMS requires a separate disclosure for each type of coverage sponsored by an entity. The forms are available and, when possible, must be completed online at the CMS’s creditable coverage Web site.
For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.
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