If your customers’ health plans include prescription drug coverage and also cover members who are eligible for Medicare Part D benefits, those customers are required to notify such members by October 15 of each year and advise them as to whether their current prescription drug plan is “Creditable” or “Non-Creditable”.
- Creditable coverage means the employer health plan’s prescription drug coverage is expected to pay out, on average for all plan participants, as much as the standard Medicare Part D prescription drug coverage.
- Non-creditable coverage means the employer health plan’s prescription drug coverage is, on average for all plan participants, not expected to pay out as much as standard Medicare prescription drug coverage pays.
Humana will also include an article in the employer newsletter, Humana Focus, to remind your customers of the creditable coverage notice requirement, which will include links to Humana’s prescription plans tested for creditable coverage.
Click these links to view Humana plans tested for creditable coverage:
- Small Group Pharmacy Plans
- Large Group Pharmacy Plans
- Puerto Rico Pharmacy Plans
- LFP Pharmacy Plans
- ASO Pharmacy Plans
Contact your Cornerstone representative with any questions.