Streamlining Health Insurance Reporting and Enhancing Data Privacy.
New regulations simplify health insurance reporting for employers, potentially reducing administrative burden. Additionally, individuals can more easily consent to receive electronic documents, and their personal data is better protected. These changes aim to streamline administrative processes and enhance privacy.
Key points
Employers can use full name and date of birth instead of Taxpayer Identification Numbers (TINs) in health insurance reports if TINs are unavailable, simplifying the reporting process.
Individuals can consent to receive health insurance statements electronically, potentially speeding up access to information.
Employers now have at least 90 days to respond to proposed penalties related to health insurance coverage, providing more time to address issues.
The period for the IRS to assess penalties on employers for not providing adequate health insurance coverage is set at 6 years from the due date of the relevant report.
Became Law
Citizen Poll