Medicare Prescribes Additional Employer Responsibilities

Medicare continues to impose new obligations on employers - even those who don't provide health benefits to retirees.  Are you aware of these new employer duties?

1. Update the Medicare Part D Creditable Coverage Notices.
2. Address responsibility for Medicare Secondary overpayments in your administrator agreements.
3. File the new paperwork needed to obtain the Medicare Part D - Retiree Subsidy.

Go here to learn more about these new responsibilities.

Bonus Fact:   New "Part D" coverage figures now available for 2007
The 2007 standard Part D coverage figures have been released.  The deductible will increase to $265, the "donut hole" (the gap between what the participant pays and what Medicare pays) will increase from $2,400 to $3,850, and catastrophic coverage will begin at $5,451.25.  The retiree subsidy cost threshold will be $265 and the cost limit will be $5,350.  This may affect your plan design decisions and creditable coverage analysis.

Please contact Chris Sears, Stephanie Smithey or Linda Rowings for more information on any of these issues.