Employers, as sponsors of their group health plans, are required to report information about their plan’s prescription drug benefit utilization. Reporting is made to the US Department of Health and Human Services annually through a special online system. The first report was due by December 27, 2022 for the 2020 and 2021 calendar years and by June 1st for subsequent years. Those due dates have been postponed.
Plans must gather data including:
Employers now have extra time to gather required data and coordinate reporting responsibilities. Employers with fully insured health plans should contact their insurer and ask if the insurer will make the required reporting. Employers with self-funded health plans should coordinate with their health coverage vendor for reporting compliance.