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Medicare Part D Changes May Impact Employer Plan Creditable Status

Medicare Part D written on paper on desk with stethoscope and medication

5.5 minute read

Meeting the creditable coverage standard could be tougher in 2025 due to a richer Part D standard benefit. Plan sponsors with rich prescription drug coverage may remain unaffected, while those barely meeting the 2024 standard might not pass in 2025. Some may enhance benefits to maintain status, others might let plans go non-creditable after a cost-benefit analysis. Plan sponsors should confirm creditable status early to evaluate options and make final decisions.

 

Note: NIS is sharing this blog from our parent company, AssuredPartners, Inc.

 

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National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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AssuredPartners

The insurance industry is filled with multinational conglomerates focused solely on improving their balance sheets. But AssuredPartners is not one of them. Our focus is on relationships. On forging rock solid partnerships with successful regional and local firms who are as fervent as we are about providing clients with best-in-class asset protection and unparalleled service. That commitment has empowered us to be the fastest-growing independent insurance agency in the U.S. Founded in 2011 as a national partnership of leading independent property and casualty and employee benefits brokerage firms, we're now one of the largest brokers in the nation with offices in 38 states and two countries. Led by a team with more than 55 years of insurance experience, we have the in-depth knowledge, strong carrier relationships and vast network of industry pros and resources to deliver innovative products and solutions that are customized to your precise needs. Partnership. Expertise. Innovation. Passion. Doing the right thing. These aren't traits you typically find in the world's largest insurance firms. But you'll find them with us, because we're invested in your success – now and for the long run.