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IRS Notices Address Significant Issues under the Affordable Care Act
JD Supra ^ | 5/2/2012 | Edward I. Leeds and Clifford J. Schoner

Posted on 05/02/2012 5:00:48 PM PDT by mdittmar

In a series of three notices, the IRS has signaled the approach that it may take on certain key issues arising under the employer shared responsibility, or “pay or play,” provisions of the Affordable Care Act (ACA) and is seeking comment on these and other questions. All of the matters discussed in the notices will ultimately be addressed in regulations.Minimum Value

Under the Affordable Care Act, an employer with more than 50 employees will be subject to an excise tax if any of its full-time employees obtains subsidized coverage through a state insurance exchange. This subsidy is unavailable where an employer offers the employee affordable group health coverage that meets certain standards. These standards include a requirement that the coverage provide at least “minimum value,” meaning that “the plan’s share of the total allowed costs of benefits provided under the plan” must be at least 60 percent of such costs.

(Excerpt) Read more at jdsupra.com ...


TOPICS: News/Current Events
KEYWORDS: irsobamacare; obamacare
will be determined by reference to standards the government establishes based on what applies in the relevant market.
1 posted on 05/02/2012 5:00:51 PM PDT by mdittmar
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To: mdittmar
Under the Affordable Care Act, an employer with more than 50 employees will be subject to an excise tax if any of its full-time employees obtains subsidized coverage through a state insurance exchange.

TRANSLATION: The big-government/big-corporate industrial monopoly wants the competition of small businesses GONE.

2 posted on 05/02/2012 5:07:12 PM PDT by E. Pluribus Unum (Do I really need a "sarcasm" tag? Seriously? You're that dense?)
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To: mdittmar

Law has become incomprehensible.

It will be used to render the law abiding citizen guilty of crimes that cannot be known.


3 posted on 05/02/2012 5:12:48 PM PDT by Jacquerie (No court will save us from ourselves.)
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To: mdittmar

FORWARD!


4 posted on 05/03/2012 8:09:46 AM PDT by Piranha (If you seek perfection you will end up with Democrats.)
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