Medicare open enrollment begins October 15th – and with this comes a participant notice requirement for employers who sponsor group health insurance that includes prescription drug coverage.

The participant notice requirement applies regardless of the employer’s size or whether the group plan is insured or self-funded.

Notices must be distributed to Medicare eligible individuals at least annually before October 15. To simplify, most employers distribute the notice to all participants regardless of age or status.

For most employers, employee benefits represent a significant portion of their overall budget and a critical part of their employee recruitment and retention strategy. Benefits vary from employer to employer but can range from medical or dental insurance to flexible spending accounts, life and disability insurance, and more. The annual process of renewing those benefits involves a great deal of work, most of which is unseen by employees.

As you finalize your benefits lineup for the next year and hold your first open enrollment meeting, we’re sharing five tips related to common issues we hear from Mineral customers each year.