The Consolidated Appropriations Act (CAA) requires insurance companies and employer-based plans to submit information regarding prescription and health care spending to the Centers for Medicare and Medicaid Services (CMS) by June 1 of each year.
Failure to submit the required information to CMS will result in an employer penalty of $100 per day per affected individual. While the majority of required RxDC data can be maintained by health insurance carriers, employers may need to provide missing data regarding premium requirements. Carriers have begun issuing data requests to plan sponsors. Plan sponsors that do not respond to carrier requests will be responsible for submitting RxDC information to CMS.
Carriers that have issued communications include
- Aetna
- Blue Cross Blue Shield of Kansas
- Meritain
- Nationwide
- Trustmark
- United Healthcare
For more information contact your Bukaty Companies team.
