You may or may not be aware of the federal requirement to issue certificates of creditable coverage, but keep reading and you can get the quick and dirty overview.
For a bit of background, certificates of creditable coverage have been required as evidence of an insured’s prior health coverage and protect them from having any pre-existing conditions excluded on a new health plan. However, the introduction of Health Care Reform and the elimination of pre-existing conditions have eradicated this need.
Final rules were issued early in 2014 to amend provisions of the Health Insurance Portability and Accountability Act (HIPAA) that have become unnecessary – primarily the requirement for group health plans to issue certificates of creditable coverage. This means that as of January 1, 2015 certificates of creditable coverage will no longer be issued.
In the end, it’s a change that won’t affect your day to day functions, but it’s good to know you won’t need to be looking for this to come in the mail. One less paper to file away!