Examples of Creditable coverage in a sentence
Creditable Coverage Coverage is creditable if the actuarial value of the coverage equals or exceeds the actuarial value of standard Medicare prescription drug coverage, as demonstrated through the use of generally accepted actuarial principles and in accordance with CMS actuarial guidelines.
Upon termination, We will provide Members with Certificates of Creditable Coverage which will show evidence of a Member’s prior health coverage with Us for a period of up to 18 months prior to the loss of coverage.
Benefits will be provided when no coverage is available under the succeeding carrier's policy whether due to the absence of cov erage in the policy or lack of required Creditable Coverage for a preexisting condition.
Creditable Coverage does not include coverage only for accident; Workers’ Compensation or similar insurance; automobile medical payment insurance; coverage for on-site medical clinics; or limited-scope dental benefits, limited-scope vision benefits, or long-term care benefits that is provided in a separate policy.
Prescription Drug Coverage and Medicare: This benefit, for purposes of Creditable Coverage, is actuarially equal to or greater than the Medicare Part D prescription drug benefit.