All persons providing minimum essential coverage (such as issuers) are required to file annual information returns with the IRS reporting certain information, including information that identifies each covered individual and the months of coverage.
Under current law, health insurance issuers are not required to report coverage for individuals enrolled in a catastrophic plan through an Exchange. Guidance applicable for 2015 and 2016 coverage if health insurance issuers could voluntarily report coverage under a catastrophic plan enrolled in through an Exchange. This notice extends issuer voluntary reporting for 2017 coverage under a catastrophic plan enrolled in through an Exchange. Accordingly, issuers may, but are not required to, report 2017 catastrophic coverage enrolled in through an Exchange.
Issuers reporting coverage under a catastrophic plan are not subject to information reporting penalties under Code Secs. 6721 and 6722 with respect to returns and statements voluntarily filed and furnished under this notice.