Benefits Bulletin

Medicare Part D - Disclosure Notice

September 25, 2018

Benefits-Firmwide

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) requires employers that offer prescription drug coverage to notify Medicare‐eligible individuals as to whether their prescription drug coverage is creditable or non‐creditable for the upcoming calendar year.

Creditable coverage is prescription drug coverage that is actuarially equal to or greater than the prescription drug coverage provided under Medicare Part D – Medicare’s voluntary prescription drug program.

Knowing a prescription drug plan’s creditable status is crucial to an individual's decision of whether to enroll in a Medicare Part D prescription drug plan, because Medicare beneficiaries who are not covered by creditable prescription drug coverage and who choose not to enroll in Medicare Part D before the end of their initial Medicare enrollment period must pay higher premiums if they enroll in Medicare Part D at a later date.

For information about your current prescription drug coverage with Paul Hastings, please click here.