Affordable Care Act Tax Provisions News

 

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Aug. 8, 2014 - The individual shared responsibility provision of the Health Care Law requires you and each member of your family to:
• have qualified health insurance, also called minimum essential coverage,
• have an exemption, or
• make a shared responsibility payment when filing your federal income tax return.
If you meet certain criteria, you will be exempt from the individual shared responsibility provision and will not have to obtain coverage or make a shared responsibility payment.

Health Care Tax Tip 2014-11, March 25, 2014

Health Care Tax Tip 2015-38, July 1, 2015

Find answers to commonly asked questions about employer shared responsibility provisions under the Affordable Care Act (ACA).

Jan. 27, 2014 - Employers may need to report employer-sponsored health care coverage amounts on W-2 forms being issued this January 2014. Individuals do not have to pay taxes on these coverage amounts and should not report it as income.

Frequently asked questions on the federal tax consequences to an insurance company that pays a MLR rebate and an individual policyholder who receives a MLR rebate, as well as the federal tax consequences to employees if a MLR rebate stems from a group health insurance policy.

Find information about the Health Insurance Marketplace where you can review health care coverage options and purchase insurance.