Group health plan sponsors must disclose whether their health plan’s prescription drug coverage is creditable or non-creditable to individuals eligible for Medicare Part D and to the Centers for Medicare and Medicaid (CMS). The annual disclosure must be provided to Medicare-eligible individuals before October 15, 2023 (the start of Medicare’s …
As a result of President Biden’s Inflation Reduction Act, Medicare can directly negotiate prices of prescription drugs covered under Medicare Part B or Part D. The initial guidance on the Medicare Drug Negotiation Program was released this past March and requested public comment on its key program elements. Since then, …
The Centers for Medicare and Medicaid Services (CMS) recently released the maximum limits on cost-sharing for 2024, which will go into effect for plan years beginning on or after January 1, 2024. The maximum annual limitation on cost sharing in 2024 is: $9,450 for self-only coverage $18,900 for family coverage …
On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 Medicare Part A and B premiums, deductibles, and coinsurance amounts. Additionally, the 2023 Medicare Part D income-related monthly adjustment amounts were also announced. Medicare Part B Premium and Deductible Physician, outpatient hospital, certain hospital health …
Group health plan sponsors must disclose to individuals eligible for Medicare Part D and to the Centers for Medicare and Medicaid (CMS) whether the health plan’s prescription drug coverage is creditable or non-creditable. The annual disclosure must be provided to Medicare-eligible individuals before October 15, 2022. After employers determine whether …
