The ABS Medicare Part D Retiree Drug Subsidy Services include:
ABS will help you understand all applicable RDS options and opportunities.
ABS will help determine which plan members are eligible to participate in the Part D RDS and assist in the compilation and maintenance of the eligibility file.
Communications with Employees
ABS will ensure your employees are appropriately informed on general information as well as the statutorily required Notice of Creditable Coverage.
The RDS Application
ABS collects the appropriate client data, then completes the Part D application process, including the correction of any errors and responding to CMS changes.
ABS secures the required attestation from a member of the American Academy of Actuaries that the value of the plan is at least as good as Medicare Part D Standard Coverage.
Prescription Drug Cost Data Processing and Submission
Working in conjunction with the pharmacy benefit manager, ABS submits necessary data to CMS.
The ABS Medicare Part D RDS program is designed to be easy and low-maintenance for the client. ABS must be appointed as account manager by the client—a process in which ABS assists; beyond that, the client simply hands off required data and answers an occasional question. Both ABS and CMS sends updates, in order to keep the client informed of the completion of significant steps or of issues needing resolution.
Benefits of the ABS Medicare Part D RDS Program:
- Provides for continuity of plans for retirees
- Does not require retirees to enroll in Part D initially
- Does not depend on the plan(s0 becoming PDP or MA-PD
- Less complicated communications and administration
- Does not depend on developing PDP and MA-PD market
- Allows multiple Employer/Group plan designs