Future regulations to address information reporting for health insurance coverage

Information reporting for health insurance coverage

The IRS today released an advance version of Notice 2015-68 announcing that the IRS and Treasury Department intend to issue proposed regulations under section 6055 relating to information reporting by health insurance issuers.

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Notice 2015-68 [PDF 37 KB] states that the future regulatory guidance will:   

  • Provide that health insurance issuers must report coverage in catastrophic health insurance plans 
  • Allow for the electronic delivery of statements reporting coverage under expatriate health plans unless the recipient explicitly refuses consent or requests a paper statement
  • Allow filers reporting on insured group health plans to use a truncated taxpayer identification number (TIN) to identify the employer on the statement furnished to a taxpayer       
  • Specify when a provider of minimum essential coverage is not required to report coverage, such as in a health reimbursement arrangement, of an individual, who has other minimum essential coverage
 
The IRS has requested comments on issues related to solicitation of TINs of covered individuals. 
 
Notice 2015-68 states that U.S. possessions or territories will not be required to report certain coverage under U.S. programs, but that state government agencies will be required to report basic health program information.
 

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