Regulatory roundup

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

President signs bill keeping ACA “small group health plan” definition
President Barack Obama signed the “Protecting Coverage for Employees Act” (P.L.114-60) into law on October 7. The law keeps the current definition of “small group health plans” under the Patient Protection and Affordable Care Act (ACA) at 50 or fewer employees rather than groups of up to 100 employees beginning in 2016.

IRS health tax tip: Reporting requirements for applicable large employers
The Internal Revenue Service (IRS) has released Health Care Tax Tip 2015-62 regarding reporting requirements for applicable large employers. Under the healthcare law, applicable large employers—those with 50 or more full-time employees, including full-time equivalent employees, in the preceding year—are required to report some information regarding health coverage by filing information returns with the IRS and furnishing statements to full-time employees.

For more information, click here.

IRS health tax tip: Understanding minimum essential coverage
The IRS posted Health Care Tax Tip 2015-61 on minimum essential coverage. The ACA requires any person or organization providing minimum essential coverage, including employers that provide self-insured group health plans, to report this coverage to the IRS and furnish statements to the covered individuals. These reporting requirements affect:

• Health insurance issuers or carriers
• The executive department or agency of a governmental unit that provides coverage under a government-sponsored program
• Plan sponsors of self-insured group health plan coverage
• Sponsors of coverage that the U.S. Department of Health and Human Services has designated as minimum essential coverage

For more information, click here.