The deadline to distribute Part D notices and the extended Form 5500 filing deadline for calendar year plans is Oct. 15. This deadline applies to employers with group health plans that provide prescription drug coverage and those with calendar year employee benefit plans that previously requested an extension of time to file their Form 5500, respectively.
The Inflation Reduction Act of 2022 brought significant changes to Medicare Part D plans, which will affect the creditable coverage status of employer-sponsored prescription drug coverage for 2026.
This checklist is designed to help employers understand the implications of the new creditable coverage methodologies, assess their current plan’s creditable coverage status and identify necessary adjustments to comply with federal requirements and support their Part D-eligible participants.
If you have questions, contact TruePlan. Our team of advisors can help you with questions within the scope of employee benefits.