Under Section 204 of the Consolidated Appropriations Act, insurance companies and employer-based health plans must submit information regarding prescription drug benefits and health care spending to the Centers for Medicare & Medicaid Services (CMS) by June 1 of each year for the prior year’s coverage. This report is also known as the RxDC Report.
In 2024, insurance companies and employer groups are required to report data on the average monthly premium paid by employers and their employees who were enrolled in benefits in 2023. This information is reported on the D1 Template of the RxDC Report filing.
Sharp Health Plan will reach out to employer groups that were enrolled in 2023 to request this information. We will submit the D1 Template on behalf of our employer groups; however, we need information from them in order to report on their behalf. If we do not receive the completed form by April 19, 2024, then the employer group will be responsible for submitting all required data directly to CMS by June 1, 2024. Failure to do so could result in the employer being subject to penalties.
Employers should submit the requested information using the RxDC Employer Reporting Intake Form. The form includes instructions on how to calculate data per CMS’ instructions.
Please make sure all information is correct. If you need to make updates to your submission, please contact your dedicated account manager. You will not be able to complete this form again.
If you have any questions, please check out our FAQ or contact your account manager. We are happy to help!
For more information, please view these resources from CMS.
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