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Politics : President Barack Obama
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ChinuSFO
To: DallasKevin who wrote (134343)6/12/2013 9:42:25 AM
From: Wharf Rat1 Recommendation  Read Replies (1) of 149317
 
The Department of Health and Human Services (HHS) administers the requirements for the Exchanges and the health plans they offer.
obamacarefacts.com

IRS role in Obamacare By Jeanne Sahadi @CNNMoney May 28, 2013: 7:58 AM ET



Collect information from employers and insurers: The ACA requires employers to tell the IRS whether an employee has insurance. Companies with at least 50 full-time employees must also indicate whether they offer "minimum essential coverage" under ACA standards.



Figure out who qualifies for subsidies or Medicaid: The ACA will provide federal subsidies known as premium tax credits to help millions of people pay for insurance.



Determine who must pay a penalty: Starting in 2014, individuals must buy qualified health insurance or pay a penalty. Some groups are exempt from the new rule, including those whose income is so low that they're not required to file a tax return.



Penalize employers that don't provide affordable coverage: Starting next year, employers with 50 or more employees must provide affordable, qualified coverage to employees. If they don't, they have to pay an "Employer Shared Responsibility payment." The IRS must establish rules and guidance for employers in this regard and collect the penalty from them.
money.cnn.com
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