Employers who provide prescription drug coverage to workers,dependents or retirees age 65 or older—those who are eligible forMedicare Part D—should be ready for March 1. That’s the day bywhich calendar-year plans must disclose to the Centers for Medicare and Medicaid Serviceswhether their drug plan is “creditable” -- at least as good asMedicare Part D’s prescription drug benefit --or “noncreditable” -- not as good.
A report from the Society for Human Resource Management remindsemployers that Medicare-eligible employees, retirees anddependents, too, must be notified at least once a year whether thedrug coverage they’re offered is creditable or noncreditable. Thosenotices are required each year before the annual Part D enrollmentwindow, which opens each Oct. 15.
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