Medicaid, Medicare, CHIP, TRICARE, veteran’s health care, Peace Corps heal plan, Employer-sponsored plan, Plans in the individual market, Grandfathered health plan, Other coverage, such as a State health benefits risk pool.
–Taxpayer liens cannot be made on property for penalties not paid for health plans.
–Every person who provides minimum essential coverage to an individual during a calendar year shall have reporting requirements, including the name and address of the Insured, the TIN, of each individual, the dates of coverage, whetehr or not the coverage is a qualified plan, and whetehr or not there are tax credits or advance payments received.
–An employer plan will have to also include the name, address, and EIN of the employer, and the portion of the premium paid by the employer.
–By June 30th of each year, the IRS sahll notify each individual who is not enrolled in minimum essential coverage of the services available through the Exchange operating in the State in which they reside.
–Large employers with 200 or mroe employees offering one or more health plans shall automatically enroll new full-time employees in one of the plans offered and notify them of the opportunity to change plans or opt out.
–By March 1, 2013, an employer shall provide to each employee at the time of hiring, writen notice of the existence of an Exchange, including a description of the services, and how to contact them to request assistance. If the employer’s plan provides less than 50% coverage, the notice shall state that the employee may be eligible for a premium tax credit. If the employee purchases a qualified health plan through the Exchange, he will lose the employer contribution to any health plans offered by the employer; such contributions may have been excluded from income for tax purposes.
–If any large employer fails to offer to its full-time employees an opportunity to enroll in minimum essential coverage and at least one full-time employee of the employer enrolls in a qualified health plan where a tax credit is allowed, then an employer is assessed a penalty of $3000 per full-time employee.
–Any large employer which requires a waiting period longer than 30 days, he shall have to pay $400 to $600 per employee who has to wait the longer waiting period.
–For any employee who receives tax credits or cost-sharing reductions, the employer is assessed an amount equal to 400% of the payment amount the employee receives. The maximum payment amount is 1/12 of $750 per month.