The Departments Health and Human Services, Labor and the Treasury have amended the definition of short-term, limited-duration individual health insurance coverage by allowing such coverage to last up to 364 days rather than up to 3 months. The amendments apply 60 days after August 3, 2018, the
Read more →The House approved five tax bills on July 24. The tax bills cover areas related to health care, IRS administration, and water infrastructure. The following measures were approved: Protect Medical Innovation Bill of 2018 ( HR 184): this bill would amend the tax code to repeal the
Read more →Taxpayers who receive corrected 2017 Forms 1095-A, Health Insurance Marketplace Statement, may need to file an amended return, if they have already filed, the IRS has reported. The Service highlighted some corrections that may require an amended return. The Service also instructed taxpayers what to do if
Read more →The Tax Cuts and Jobs Act (H.R. 1) has been approved by Congress and signed by President Trump. After a last-minute procedural glitch that required the Senate to vote first on the final bill, the most sweeping change to the U.S. tax code in decades cleared the
Read more →The Departments of the Treasury, Health and Human Services, and Labor have issued proposed and interim final contraceptive mandate rules that are effective on October 6, 2017. The new regulations exempt objecting nongovernment employers from the general requirement to provide contraceptive coverage at no cost to participants
Read more →At press time, it appears that legislation to repeal and replace the Affordable Care Act (ACA) – including its taxes – will not be revisited until after Congress’ August recess. Although there have not been any legislative changes to the ACA, there could be administrative changes. “The
Read more →The IRS did not issue the required notification letters by June 30, 2015, to taxpayers without Minimum Essential Coverage under the Patient Protection and Affordable Care Act (ACA) for tax year 2014, the Treasury Inspector General for Tax Administration (TIGTA) reported. In March 2016, the IRS’s ACA
Read more →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
Read more →House Republicans on the evening of March 6 unveiled their much anticipated Patient Protection and Affordable Care Act (ACA) repeal and replacement legislation. A markup of The American Health Care Act is scheduled in the Ways and Means Committee for Wednesday, March 8. “It is going to
Read more →