Today, a coalition of over 200 businesses and national, state, and local organizations issued a letter endorsing the Commonsense Reporting Act (S. 2366/H.R. 4070) to bring clarity to the Affordable Care Act’s (ACA) tax credit eligibility and reporting process. The letter, spearheaded by the Partnership for Employer-Sponsored Coverage, exemplifies the nation-wide support for providing consumers with a safety-net and business with relief under the current ACA-Internal Revenue Service (IRS) system.
The bipartisan, bicameral Commonsense Reporting Act provides consumers with help during the annual health coverage open enrollment process, employers with relief from the burdensome reporting requirements, and Exchanges with an additional tool to verify tax credit and subsidy eligibility. The legislation is sponsored by Senators Mark Warner (D-VA) and Rob Portman (R-OH) and Representatives Mike Thompson (D-CA) and Adrian Smith (R-NE).
“The Commonsense Reporting Act provides a pathway whereby data currently reported to the IRS during year-end tax filing season is instead reported during exchange open enrollment season – helping consumers, employers and exchanges better navigate the ACA eligibility and reporting process. This is a technical tax-process change that is long overdue for consumers and employers alike,” said Christine Pollack, Executive Director of the Partnership for Employer-Sponsored Coverage.
The Partnership for Employer-Sponsored Coverage, which spearheaded the letter, is comprised of 16 leading national employment-based organizations and is committed to ensuring that that employer-sponsored coverage is strengthened and remains a viable, affordable option for millions of American workers and their families for decades to come.
Read the letter of endorsement for S. 2366 here.
Read the letter of endorsement for H.R. 4070 here.
Employers Endorse Reintroduction of Pro-Consumer, Pro-Business Legislation