More healthcare-related regulatory news for plan sponsors, including links to detailed information.
IRS issues final ACA 2015 employer health coverage reporting forms and instructions
The Internal Revenue Service (IRS) has issued final 1094-B, 1095-B, 1094-C, and 1095-C forms. The IRS also released instructions that employers, plan sponsors, and group health insurers will use to report health coverage as required by the Patient Protection and Affordable Care Act (ACA). Here are the final 2015 instructions and forms:
• Instructions for Forms 1094-B and 1095-B
• Instructions for Forms 1094-C and 1095-C
• Form 1094-B – Transmittal of Health Coverage Information Returns
• Form 1094-C – Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
• Form 1095-B – Health Coverage 2015
• Form 1095-C – Employer-Provided Health Insurance Offer and Coverage
IRS issues notice providing guidance on information reporting on minimum essential coverage
The IRS has issued Notice 2015-68 advising taxpayers that the agency and the Treasury Department intend to propose regulations under § 6055 of the Internal Revenue Code:
1. Providing that health insurance issuers must report coverage in catastrophic health insurance plans described in § 1302(e) of the ACA, enrolled in through an affordable insurance exchange (or exchange, also known as a health insurance marketplace).
2. Allowing electronic delivery of statements reporting coverage under expatriate health plans unless the recipient explicitly refuses consent or requests a paper statement.
3. Allowing filers reporting on insured group health plans to use a truncated taxpayer identification number (TTIN) to identify the employer on the statement furnished to a taxpayer.
4. Specifying when a provider of minimum essential coverage is not required to report coverage of an individual who has other minimum essential coverage.
Notice 2015-68 also invites comments on issues relating to solicitation of taxpayer identification numbers (TINs) of covered individuals; advises that the governments of United States possessions or territories, namely American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands, are not required to report coverage under Medicaid and the Children’s Health Insurance Program (CHIP); and provides that the state government agency sponsoring coverage under the Basic Health Program is required to report Basic Health Program coverage.
Notice 2015-68 will be published in Internal Revenue Bulletin 2015-41 on October 13, 2015. To read the entire notice, click here.
IRS issues automated enrollment guide for ACA providers
The IRS has developed an automated enrollment guide for the ACA Information Returns (AIR) Application’s authorized contacts who want to use automatic enrollment to enroll Application to Application (A2A) client application systems into the IRS A2A channel.
To read the entire guide, click here.
Health insurance coverage in the United States
A new report from the U.S. Census presents statistics on health insurance coverage in the United States in 2014 and also focuses on changes between 2013 and 2014. According to the report, the percentage of people without health insurance coverage decreased sharply between 2013 and 2014 by just under 3.0 percentage points, specifically, by 2.9 percentage points.
To read the entire report, click here.