Streamlining health insurance reporting and protecting dependent privacy.
This Act simplifies the process for employers reporting health insurance coverage information, potentially reducing administrative errors. For citizens, this means greater flexibility in receiving documents (e.g., electronically if prior consent was given) and enhanced privacy, as a date of birth can substitute for a Taxpayer Identification Number (TIN) in certain reporting situations. Employers also gain more time to respond to tax disputes related to health coverage.
Key points
Reporting Flexibility: If an employer cannot collect the TIN of an insured individual, the full name and date of birth can be substituted, enhancing privacy and simplifying compliance.
Electronic Statements: If you previously consented to receive documents from your employer electronically, that consent applies to health coverage statements unless you revoke it in writing.
Extended Response Time for Employers: Large employers will be granted at least 90 days to respond to a proposed assessment of shared responsibility payments (penalties) related to health coverage.
New Statute of Limitations: The time limit for assessing penalties on employers for failing to provide health coverage is set at 6 years from the due date of the required reporting form.
Expired
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