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Proposed Regulations on Federal Income Tax Exemption for Hospitals
JD Supra ^ | July 13, 2012 | by Elizabeth M. Mills

Posted on 07/14/2012 5:26:20 AM PDT by Oldeconomybuyer

The Treasury Department released proposed regulations on June 22, 2012 interpreting and implementing specific requirements for hospitals to maintain their Section 501(c)(3) tax-exempt status as part of the 2010 Health Care Reform Act.

Section 501(r)(4) requires a hospital organization to establish a written financial assistance policy. The statute specifies that the financial assistance policy must include: (1) eligibility criteria for financial assistance, and whether such assistance includes free or discounted care; (2) the basis for calculating amounts charged to patients; (3) the method for applying for financial assistance; (4) in the case of an organization that does not have a separate billings and collections policy, the actions the hospital organization may take in the event of nonpayment; and (5) measures to widely publicize the policy within the community served by the hospital organization.

Section 501(r)(4) also requires a hospital organization to establish a written policy relating to emergency medical care. This policy requires the hospital organization to provide, without discrimination, care for emergency medical conditions to individuals regardless of their eligibility under the organization’s financial assistance policy.

The regulations also require a hospital facility to limit the amount charged for any medical care it provides to an individual eligible for financial assistance to less than the gross charges for that care.

Section 501(c)(6) provides that a hospital cannot engage in extraordinary collection actions against an individual before it makes reasonable efforts to determine whether the individual is eligible for financial assistance.

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TOPICS: Business/Economy; Constitution/Conservatism; News/Current Events; Politics/Elections
KEYWORDS: obamacare; obamatax; regulations; socialism
Good to see the IRS involved in the healthcare industry ... /Marxism
1 posted on 07/14/2012 5:26:27 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

But, but,I thought everyone was going to be paid for by Obamacare.

2 posted on 07/14/2012 8:43:45 AM PDT by Venturer
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