January Employee Benefits Tips and Guidance from NYSTIA Member Brown & Brown

Each year, group health plan sponsors that provide prescription drug coverage to individuals eligible for Medicare Part D must electronically disclose to the Centers for Medicare & Medicaid Services (CMS) whether that coverage is "creditable" or "non-creditable." The disclosure obligation applies to all plan sponsors that provide prescription drug coverage, even those that offer prescription drug coverage only to active employees and not to retirees. The Online Disclosure to CMS form on an annual basis. The Disclosure to CMS is due no later than 60 days after the beginning date of the plan year (contract year, renewal year, etc.) and upon change of the plan’s creditable coverage status. Calendar-year plans must submit this year's disclosure to CMS by March 1, 2023.

The 2023 Consolidated Appropriations Act (CAA 2023) includes verbiage that extends temporary relief permitting telemedicine plans to be offered in combination with Health Savings Accounts (HSA) without including a deductible or charging a fair market value (FMV) fee. The bill has now been signed into law by President Biden with the telemedicine/HSA relief language intact.

Calendar year plans can take advantage of the relief right away without disruption. Employees with Health Savings Accounts can participate in a telemedicine plan with no cost-sharing and remain HSA eligible for both the 2023 and 2024 plan years. Unfortunately, the CAA 2023 creates a gap in the relief for non-calendar year plans.

Pay Disclosure