ACA Round-Up: Bipartisan Proposal To Revamp Employer Reporting Requirements And More

Throughout a summer of intensely partisan efforts to repeal and replace parts of the Affordable Care Act, there have been flickers of bipartisanship, including a sustained effort by Senators Alexander (R-TN) and Murray (D-WA) and the Senate Health, Education, Labor, and Pensions Committee to find bipartisan consensus for a short-term market stabilization package. On October 3, 2017, another bipartisan effort emerged from another quarter. Senators Portman (R-OH) and Warner (D-VA) introduced a bill that is surprising in that it emerged out of nowhere (at least as far as I am aware) and addresses a problem that obviously needs a solution. That problem is employer reporting under the ACA. The ACA imposes both an individual and an employer responsibility requirement. Individuals are required to have minimum essential coverage or pay a penalty, unless they qualify for an exemption. Large employers are required to provide minimum essential coverage to all full-time employees or pay a penalty if 1) they fail to do so and 2) at least one employee receives premium tax credits through the marketplace. Alternatively, large employers that offer minimum essential coverage but fail to offer full-time employees coverage that is affordable and has an actuarial value of 60 percent also face penalties for each full-time employee that receives premium tax credits. To ensure compliance with the employer responsibility requirement and to assist verification of compliance with the individual respon...
Source: Health Affairs Blog - Category: Health Management Authors: Tags: Costs and Spending Following the ACA Insurance and Coverage Medicaid and CHIP Source Type: blogs