What constitutes “creditable coverage”?

Question: What constitutes “creditable coverage”?

Answer : Creditable coverage is prescription drug coverage that, on average, expects to pay out at least as much as the standard coverage available through a Medicare prescription drug plan. This may be prescription drug coverage that is provided through a current or former employer, or union, the VA, a state sponsored plan, etc. Entities providing prescription coverage are required to notify their Medicare eligible members of whether their coverage is creditable or not on an annual basis and at other times as specified at 42 CFR 423.56.

Additional information regarding creditable coverage can be found on the CMS web site at: http://www.cms.hhs.gov/CreditableCoverage/01_Overview.asp

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