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Lubenow Agency
856-866-2020 or 908-272-1812

Operation Shout: Click "Take Action" Link below to help ease Employer Reporting Compliance for Health Insurance

8/14/2015

1 Comment

 
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I have been lobbying for twenty years in Washington for health care reform to protect employers from mandates that affect the cost of health insurance. 

Below you will find details regarding a recent bill that has been posted to reduce employer reporting on the Affordable Care Act. 

We need sponsors to bring this to the Senate floor for a vote.  


If we can get this bill passed, it will make a significant difference in the reporting requirements that have been placed on businesses.

Please click the TAKE ACTION link below and complete the simple form (name, address, etc.).  It takes about three minutes to complete the form and it will be sent automatically to your Congressman and Senator asking them to sign on in support of this bill. 

DETAILS:
Last week, Senators Mark Warner (D-VA) and Rob Portman (R-OH) introduced S. 1996, the Commonsense Reporting Act of 2015. This followed Representatives Diane Black (R-TN-6) and Mike Thompson (D-CA-5) introduction of H.R. 2712 in June. These bills are in response to guidance released last year by the Department of the Treasury and the Internal Revenue Service (IRS) that detailed the reporting requirements under Section 6055 and 6056 for enforcement of the PPACA's individual and employer mandates.

In March 2014, the Department of the Treasury and the Internal Revenue Service (IRS) released final regulations on what health plan information all employers are required to report to the federal government annually for enforcement of both the health reform law's individual and employer mandates. Unfortunately, the final regulations are confusing and extremely complicated for businesses of all sizes.

H.R. 2712 and S. 1996 will ease the compliance reporting requirements for employers offering health insurance coverage to their employees. Specifically, the legislation would:

  • Establish a new voluntary reporting system for employers to report to the IRS information about their health plans. Exchanges will use the federal data hub to access this data for individual verification for tax credits.
  • Only employees (and/or their dependents) who access subsidized coverage through the exchanges would need to be reported to the IRS, greatly simplifying the requirement of all employees be reported.
  • Information that would be reported would include: name and employer identification, who has been extended an offer of minimum essential coverage, whether coverage meets minimum value and the affordability safe harbor, and months that coverage is available without waiting periods.
  • Allows employees to deliver reports to employees electronically without another consent form.
  • Instructs the Government Accountability Office to conduct a study on the notifications, HHS appeals process, and the prospective reporting system.
  • Requires HHS to review the most recent tax filing for individuals automatically reenrolled in exchange-based coverage and adjust their tax credits accordingly.
Take Action today! Please urge your member of Congress to cosponsor H.R. 2712 and Senators to support S. 1996! For more information on the employer reporting requirements, click here.


TAKE ACTION

1 Comment
Lawrence Bishop link
1/12/2021 08:52:53 pm

First time reading much appreciate it

Reply



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    Doug Lubenow

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