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IRS Issues Proposed Regs on Health Insurance Provider Fee
On March 4, the Internal Revenue Service (IRS) issued proposed regulations on the annual health insurance provider fee imposed by the Patient Protection and Affordable Care Act. An annual fee applies to each covered entity engaged in the business of providing health insurance. The proposed regs define various key terms, including "covered entity," "excluded entities," "controlled groups," "health insurance," "net premiums written," and "U.S. health risk." The regs are proposed to apply to any fee that is due on or after September 30, 2014.
Comments are due by June 3, 2013