Marketplace Information Reporting: Final Regulations Issued

Final regulations for information reporting have recently been released by the IRS, and are effective as of May 7, 2014. These regulations apply to tax years ending after December 31, 2013. Information needs to be reported to both the IRS and taxpayers. This reporting is required by the individual market of the health insurance marketplaces on enrollments in qualified health plans (IRC Sec. 36B(f)(3)) and is mandatory for assistance credits.

There have also been amended regulations released by the Department of Labor regarding COBRA coverage. Details on special enrollment periods and new options for affordable coverage can be found on the Department of Labor website: http://www.dol.gov/ebsa/cobra.html

Watch for additional information.

Market Changes for Employers and Exchanges

The S&P 500 market index has predicted that about 90% of its workforce will have something other than job-based health coverage by the year 2020. This report analyzed 500 companies and predicts coverage will shift towards the marketplace in the next few years, especially for those with low and middle-income. The Daily Briefing discusses.