Regulatory roundup

More healthcare-related regulatory news for plan sponsors, including links to detailed information.

IRS updates FAQs on employer-provided health coverage information reporting requirements
The Internal Revenue Service (IRS) has updated its set of frequently asked questions (FAQs) on employer-provided health coverage information reporting requirements.

To visit the updated web page, click here.

Trends in insurance coverage and source of private coverage among young adults
The National Center for Health Statistics has issued a new data brief, “Trends in insurance coverage and source of private coverage among young adults aged 19–25: United States, 2008–2012,” which has found that the percentage of privately insured young adults with employer-sponsored health insurance increased from the last six months of 2010 to the last six months of 2012 (85.6% to 92.5%).

Other results include:

• The percentage of young adults with private health insurance coverage increased from the last six months of 2010 through the last six months of 2012 (52.0% to 57.9%).
• Except for an increase in the first six months of 2011, the percentage of privately insured young adults who had a gap in coverage during the past 12 months decreased from the first six months of 2008 through the last six months of 2012 (10.5% to 7.8%).
• The percentage of privately insured young adults with coverage in their own name decreased from 40.8% in the last six months of 2010 to 27.2% in the last six months of 2012.

Young adults often experience instability with regard to work, school, residential status, and financial independence. This could contribute to a lack of or gaps in insurance coverage. In September 2010, the Patient Protection and Affordable Care Act (ACA) extended dependent health coverage to young adults up to age 26. This provision was expected to lead to increases in private coverage for young adults aged 19 to 25 when they became eligible for coverage through their parents’ employment. This report provides estimates describing the previous insurance status and sources of coverage among privately insured young adults aged 19 to 25, using data from 2008 to 2012 in the National Health Interview Survey (NHIS). Comparisons are made with adults aged 26 to 34, the most similar age group that was not affected by the ACA provision.

To read the entire paper, click here.

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