Penalties for Failure to Timely Provide / File Medicare Part D Disclosure Notices

[401 Chaos]

My research so far suggests that no statutory penalty has been set for a plan sponsor's failure to timely provide Medicare Part D Disclosure Notices to participants. Obviously, Plan has something of a legal and fiduciary duty to do so in order that participants can make appropriate choice as to Medicare Part D. Are there also no penalties imposed for failure to file a Disclosure Notice with CMS other than inability to receive subsidy if that is applicable?

I am curious what others' experiences have been where Plan files a Disclosure Notice late with CMS and also provides late notices to participants.

thanks

[namealreadyinuse]

You are correct that there are no statutory penalties either way.

It is probably too soon for people to realize that they missed the deadlines and file late.