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November 1, 2006

Reminder: Annual Medicare Part D Notices

The annual notices of creditable and noncreditable coverage to Medicare-eligibles must be provided no later than November 14, 2006.  Notices to be used on or after May 15, 2006, as well as Creditable Coverage Guidance, are all available on-line from the CMS website: http://www.cms.hhs.gov/creditablecoverage.

In September, 2006, CMS proposed a few relatively insignificant modifications to these notices.  These notices and accompanying creditable coverage guidance, are expected to be finalized shortly.  In the interim, plan sponsors can either use the May 2006 version, or use the revised draft notices.

 

The information contained in this Benefit Beat is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations.

As required by U.S. Treasury rules, we inform you that, unless expressly stated otherwise, any U.S. federal tax advice contained in this Benefit Beat is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service.

 

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