Today, the Partnership for Employer-Sponsored Coverage (P4ESC) filed a letter with the Internal Revenue Service (IRS) under the Request for Comments entitled Information Reporting by Applicable Large Employers on Health Insurance Coverage Offered Under Employer-Sponsored Plans regarding the coalition’s policy recommendations for evaluating and amending the Affordable Care Act’s (ACA) employer reporting requirements.
P4ESC has been the leading employer alliance in Washington, D.C., advocating for commonsense policy reforms to the ACA’s employer reporting requirements, which directly govern the law’s health insurance Exchanges and mandates, in order to provide individual consumers with information, employers with compliance relief, and state and federal Exchanges with an additional tool to verify tax credit and subsidy eligibility.
The letter, which is addressed to Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig, reiterated P4ESC’s interest in working collaboratively with the Biden Administration to amend compliance requirements under the ACA’s employer shared responsibility and reporting requirements.
“Employers want the information-reporting requirements under sections 6055 and 6056 and the Exchange eligibility verification process to run efficiently and effectively so their employees are not subject to the costly repayment of premium tax credits and the business is not subject to possible violations under the employer shared responsibility. A comprehensive evaluation and revision of the compliance requirements and information-sharing under the ACA is long overdue,” notes the coalition’s letter.
In addition to providing these written policy comments, P4ESC is actively working to have bipartisan reform legislation reintroduced in Congress.
The full letter is available HERE.
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