Annual Creditable Coverage Notification to CMS and Medicare Part D Eligible Individuals

As a reminder, whether or not your clients are participating in the Retiree Drug Subsidy (RDS) program or Employer Group Waiver Plan (EGWP), creditable coverage notification is due to CMS within 60 days following the start of the plan year. Your clients must also provide notice of creditable coverage to Medicare Part D eligible individuals by October 15, 2024, so they can make informed decisions regarding enrollment in the most suitable plan for their needs.

Benecard has reviewed each client’s program to determine actuarial equivalence and identify creditable coverage.  Along with the CMS requirements, Benecard is also providing the following attachments to assist with the communications:

1) Notice Regarding the Plan’s Status of Creditable Coverage – Creditable Coverage Notification (2024 Plan Year) – Consultant to send out

2) CMS Guidance on Creditable Coverage Notification to CMS (for Non-RDS groups) – Creditable Coverage Disclosure to CMS Updated Guidance (2009-06-29)

3) Model Creditable Coverage Disclosure Notice in English – Model Creditable Coverage Disclosure Notice (English)–040111

4) Model Creditable Coverage Disclosure Notice in Spanish – Model Creditable Coverage Disclosure Notice (Spanish)–040111

Please contact your Client Relations Manager no later than Friday, September 20, 2024 and let them know if you are handling these communications on behalf of your client(s) and prefer communications be sent directly to you, or if you would like for us to send the notification to your client(s), with a copy to you. If we do not hear from you, we will assume you are sending the notification directly to your clients.