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Advocacy Article

IRS Issues Proposed Regs on Whether Health Plans Provide Minimum Value

On April 30, the Internal Revenue Service (IRS) issued proposed regulations on the health insurance premium tax credit, providing guidance on determining whether healthcare coverage under an eligible employer-sponsored plan provides minimum value.  Individuals generally may not receive a premium tax credit if they are eligible for affordable coverage under an eligible employer-sponsored plan that provides minimum value. A plan fails to provide minimum value if it covers less than 60 percent of the total allowed costs of benefits provided under the plan.  The proposed regs provide that taxpayers may determine whether a plan provides minimum value by using the minimum value calculator from the IRS and the Department of Health and Human Services.

Comments are due by July 2, 2013.