IRS proposes ACA minimum essential coverage definition, reporting changes

Nick Moran -

A proposal from the IRS seeks to revise and loosen requirements for reporting minimum essential coverage under the ACA, while simultaneously becoming more strict on faulty reports. 

Most notably, the IRS' proposal revises the definition of minimum essential coverage to omit Medicaid coverage of COVID-19 testing and diagnostics, according to a briefing from Bradley, a national law firm.

The proposed changes to ACA regulations would also permanently extend reporting time and allow insurers to post forms that report the company's minimum essential coverage on its website instead of directly to individuals.

However, it would also end "transitional good faith relief" offered to incomplete and incorrect reports since minimum essential coverage reporting was first required.

If approved, the regulations are expected to go into effect in 2022.

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