MEDICARE PART D CREDITABLE COVERAGE NOTICES Group health plans that provide prescription drug coverage to Medicare Part D eligible individuals must disclose whether that coverage is creditable or not creditable before the start of the annual coordinated election period for Medicare Part D. Creditable coverage means that the coverage is expected to pay on average … Continued
Trying to figure out Medicare can be one of the most frustrating aspects of retirement. Even the savviest of retirees struggle with figuring out when to enroll and which parts to enroll in – there’s Part A, Part B, Part C, Part D, Medigap plans and so on. And, what in the world is a … Continued
Are you an employer that offers or provides group health coverage to your workers? Does your health plan cover outpatient prescription drugs — either as a medical claim or through a card system? If so, be sure to distribute your plan’s Medicare Part D notice before October 15. Purpose Medicare began offering “Part D” plans — … Continued
Enrolling in Medicare does not cause COBRA to start. Under the federal rules, COBRA must be offered to persons enrolled in the employer’s health plan only if they lose coverage because of certain specific events. Termination of employment is an example of a COBRA qualifying event. Becoming eligible for Medicare, or enrolling in Medicare, is … Continued
Comparing Medicare health and prescription drug plans can be complicated. Keep in mind these 4 things to make your plan choice easier with the Medicare Plan Finder. Total cost for care. It’s important to think about your total out-of-pocket costs, including deductibles,copayments, coinsurance, maximums, and drug costs, that you’ll pay with a Medicare health or drug plan. When you … Continued
The Centers for Medicare and Medicaid Services (CMS) published its final rule and fact sheet for benefit payment and parameters for 2020. Although the final rule primarily affects the individual market and the Exchanges, the final rule addresses the following topics that may impact employer-sponsored group health plans: The 2020 maximum annual limitation on cost sharing is $8,150 for … Continued
