The Internal Revenue Service has issued notice of publication of final Patient Protection and Affordable Care Act (PPACA), better known as ObamaCare, regulations that may impact employer health arrangements, cafeteria plan contributions and wellness programs in RIN 1545-BL43 "Minimum Value of Eligible Employer-Sponsored Plans and Other Rules Regarding Health Insurance Premium Tax Credits" (what a mouthful). [Note the official Federal Register website attached to the Hyperlink has not yet been published as of 12/17/2015, it should be active and contain the regulations by 12/18.2015. Until such time as the official page contains the actual regulations, the document is available in a PDF format by using one of the links contained therein.]
The document contains final regulations on the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, as amended by the Medicare and Medicaid Extenders Act of 2010, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, and the Department of Defense and Full-Year Continuing Appropriations Act, 2011. These final regulations affect individuals who enroll in qualified health plans through Affordable Insurance Exchanges (Exchanges, sometimes called Marketplaces) and claim the health
insurance premium tax credit, and Exchanges that make qualified health plans available
to individuals and employers.
This package of regulations also covers matters such as how families should report income of their children when attempting to qualify for PPACA premium tax credit subsidies, and how the premium tax credit program should account for newborns being born in the middle of the month.