Medicare Part D
The Medicare Modernization Act (MMA) mandates that certain entities offering prescription drug coverage, including group health plan sponsors, must disclose to all Medicare eligible individuals with prescription drug coverage under the plan whether such coverage is creditable. MMA also 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. It is important that plan sponsors provide this information and communicate effectively with eligible beneficiaries to ensure that they make informed and timely enrollment decisions.
NAA can assist in all matters of ongoing compliance and employee communication from simple reminders of disclosure requirements to providing employee notices and certificates.