How does the requirement affect retirees covered under an employer pharmacy plan?
The MMA imposes a late enrollment penalty on individuals who do not maintain creditable coverage for any period of 63 days or longer following their initial enrollment period for the Medicare prescription drug benefit The Creditable Coverage notification information is a key factor in retirees’ decision about whether to enroll in a Part D plan. Therefore, it is important that plan sponsors provide this information and communicate effectively to ensure that their members make informed and timely enrollment decisions.
Related Questions
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- How does the requirement affect retirees covered under an employer pharmacy plan?
