The Internal Revenue Service is still trying to figure out how to combine two new Patient Protection and Affordable Care Act (PPACA) information reporting programs.
One of the new programs, described in Section 6056 of the Internal Revenue Code, requires a health coverage issuer to tell the IRS and consumers whether it is providing “minimum essential coverage.”
The other, described in IRC Section 6056, requires a large employer to tell the IRS whether it is meeting the PPACA “shared responsibility” requirements — the employer mandate requirements — by offering full-time workers affordable coverage with a minimum value. An employer that violates the mandate rules could have to pay a penalty of $2,000 per affected worker.
The IRS will publish the PPACA Section 6055 MEC reporting requirement and PPACA Section 6056 shared responsibility reporting requirement draft regulations in the Federal Register Monday.
Comments will be due 60 days after the publication date.
The IRS asked for comments on the IRC Section 6055 and IRC Section 6056 reporting programs in April 2012.
Many commenters asked the IRS to combine the reporting programs.