Reminder: Medicare Part D Creditable Coverage Notice Deadline is Coming Up

Each year, employers are required to notify Medicare-eligible employees about whether their employer-sponsored prescription drug coverage is "creditable" or "non-creditable". Employer sponsored coverage is deemed "creditable" if it offers prescription drug coverage that is at least equal to the actuarial value of Medicare Part D coverage. Because of recent changes in the law, many employer plans may not be deemed creditable. These notices essentially provide employees with the opportunity to reevaluate whether to enroll in Medicare Part D coverage. Employers who provide prescription drug coverage are required to notify all Medicare-eligible employees about their creditable or non-creditable status by October 15, 2026. For more information on the rules governing creditable coverage, visit Tax Facts Online. Read More: Link to Q354.