2022 Medicare Notice of Creditable Coverage
Medicare requires individuals enrolled in Medicare plans to have “creditable coverage” for prescription drugs. As such, federal law requires group health plan sponsors that offer prescription drug coverage to notify Medicare-eligible plan participants (employees and dependents) as to whether their prescription drug coverage is creditable coverage.
Creditable coverage means coverage that is expected to pay on average at least as much as the standard Medicare Part D prescription drug coverage under Centers for Medicare and Medicaid Services (CMS) regulations. The 2022 Core PPO plan, TCH PCP Core PPO plan, Standard HDHP, TCH PCP Standard HDHP, Basic HDHP, and TCH PCP Basic HDHP are considered creditable coverage.