Proposed rules issued – Shared responsibility for employers regarding health coverageDecember 28, 2012
The Internal Revenue Service (IRS) has issued proposed rules containing guidance on shared responsibility for employers regarding employee health coverage. These proposed regulations would affect only employers that meet the definition of "applicable large employer" (described below). In general, the proposed rules state that employers with 50 or more full-time employees may be subject to a tax penalty if:
The IRS is seeking comments on the proposed rules. The comment period ends on March 18, 2013. Information about the comment process is contained in the rules.
The IRS has also issued a series of questions and answers (attached) on shared responsibility requirements, including:
To learn more about this proposed rule, see the attached IRS document and Q&A. Please know that the information Wellmark is providing is for informational purposes only. These proposed rules are not binding until final regulation has been issued.
We will continue to provide timely information as it becomes available. Additional information on health care reform can be found on WeKnowReform.com.