IRS Final Rules Address Individual Mandate | Practical Law
The Internal Revenue Service (IRS) has issued final regulations addressing the Affordable Care Act's (ACA's) individual mandate and the requirement to maintain minimum essential coverage.
The Internal Revenue Service (IRS) has issued final regulations addressing the Affordable Care Act's (ACA's) individual mandate and the requirement to maintain minimum essential coverage.
On August 27, 2013, the IRS issued final regulations addressing the Affordable Care Act's (ACA's) individual mandate and the requirement to maintain minimum essential coverage. The regulations finalize IRS proposed rules on minimum essential coverage issued in January 2013 (see Legal Update, Proposed Regulations Address Minimum Essential Coverage).
Among other issues, the final regulations clarify:
When a self-insured group health plan is an eligible employer-sponsored plan for purposes of minimum essential coverage.
That a plan offered to employees on behalf of an employer qualifies as an eligible employer-sponsored plan.
The rule for qualified health plans offered through an exchange established by and within a US territory.
The rules applicable to individuals eligible for continuation or retiree coverage because of a relationship to a former employee.
Practical Law's Employee Benefits & Executive Compensation team will provide a full update regarding the final regulations in next week's e-mail update.