Expertise > Specialist Services > Medicare Part D Services

Medicare Part D Actuarial Services

The Medicare Prescription Drug Improvement and Modernization Act of 2003 (MMA) establishes a Prescription Drug Benefit for Medicare eligible individuals (Medicare Part D).  The Centers for Medicare and Medicaid Services (CMS) have established Final Regulations implementing MMA, and have prepared guidelines to help interpret the Regulations.

Under MMA, entities offering prescription drug coverage must disclose to all Medicare eligible individuals under the plan whether the actuarial value of the plan coverage is at least as great as the actuarial value of Medicare Part D ("Creditable Coverage").  To encourage employers to offer quality prescription drug coverage, employers will be eligible for a subsidy on all plan retirees.  Employers who wish to apply for the subsidy will need to obtain an attestation by a qualified actuary that the plan coverage is at least actuarially equivalent to Medicare Part D coverage ("Actuarial Attestation").  In addition Part D plan sponsors require a qualified actuary in the bid process

What we can provide:

• We can determine or assist in determining whether coverage is creditable
• We can perform the actuarial attestation necessary to apply for the Retiree Drug Subsidy
• We can perform the actuarial requirements in the bidding process for Part D plan sponsors
• We can help determine the effect of other Medicare Part D financial implications

Benefits of Using Our Services:

• Client-oriented approach
• Clear reports and analyses that are written in plain English
• Fast turnaround times
• Cost effective services
• Advice from consultants with real-world experience managing operations, including managing programs for over 50,000 Medicare-eligible retirees