Streamlining Employer Reporting and Health Insurance Tax Credit Verification
This Act aims to simplify employer reporting of health insurance offerings, potentially reducing administrative burdens. It introduces a voluntary prospective reporting system to streamline the verification process for premium assistance tax credits and cost-sharing subsidies for employees. The changes also seek to improve citizens' access to insurance information and protect data privacy.
Key points
Employers can voluntarily report health insurance data in advance, potentially simplifying their reporting obligations.
Easier verification of eligibility for health insurance tax credits and cost-sharing subsidies for employees.
Employees will have easier access to their employer's Employer Identification Number (EIN) for tax purposes.
Introduces the option for electronic delivery of health insurance-related statements if the individual has consented.
Extends the appeal period for employers facing proposed penalties for not offering health insurance.
Ensures privacy protection for personal data, including the option to use name and date of birth instead of TIN in some cases.
Expired
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