Who should be handling your creditability testing?

There are four realistic answers, and one of them is often the carrier. Here is how to work out which fits your situation.

Any of these sound familiar?

Funding

Self-funded plans usually sit outside whatever testing a carrier performs, because there is no carrier plan design to test.

How Creditable, the carrier, a third-party actuary and in-house testing compare across six criteria for Medicare Part D creditable coverage determinations.
Criteria	Creditable	Carrier	Third-party actuary	In-house
1. Accuracy	Same method, every run	Varies, not always tested	High accuracy	Depends who runs it
2. Speed	Same session	Days to weeks, or late	Two to six weeks	Slow and manual
3. Cost	$250 per plan, per plan year	Included, but limited	High per plan fee	High internal labor cost
4. Transparency	Method stored with every run	Little to none	Report provided	Limited unless expert
5. Scalability	Each design tested on its own	One blanket statement	Priced separately each time	Time consuming to scale
6. Documentation	A record, plus the notice	Whatever they send you	A PDF report	A spreadsheet

Run it through with us and compare the answer to the one you already have.