A bill to streamline the employer reporting process and strengthen the eligibility verification process for the premium assistance tax credit and cost-sharing subsidy.
Commonsense Reporting Act of 2017
This bill amends the Patient Protection and Affordable Care Act and the Internal Revenue Code to modify the requirements for employers to report health insurance coverage information to the Internal Revenue Service (IRS) by the end of the tax year.
The bill changes the information that is required and permits employers to voluntarily report the information prior to the beginning of open enrollment.
The Department of the Treasury must develop a prospective reporting system to permit:
At the time of enrollment, exchanges must provide employers the names of employees and dependents that enroll in a qualified health plan for a year.
If a health insurance issuer or employer is unable to obtain the taxpayer identification number of a dependent, Treasury may permit the individual's full name and date of birth to be used instead.
Employers participating in the reporting system established by this bill are exempt from the requirement to report health insurance coverage information to the IRS by the end of the tax year.
Referred to the Subcommittee on Health.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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