27 pages. "This document includes final regulations ... that provide an automatic extension of time for providers of minimum essential coverage (including health insurance issuers, self-insured employers, and government agencies) to furnish individual statements regarding such coverage and an alternative method for furnishing individual statements when the individual shared responsibility payment amount is zero. The final regulations also provide an automatic extension of time for 'applicable large employers' ... to furnish statements relating to health insurance that the applicable large employers offer to their full-time employees. Additionally, the final regulations provide that 'minimum essential coverage,' as that term is used in health insurance-related tax laws, does not include Medicaid coverage limited to COVID-19 testing and diagnostic services provided under the [FFCRA]....

"[T]he Treasury Department and the IRS are adopting with one clarifying change the proposal for a permanent, automatic extension of time for furnishing written statements to individuals pursuant to Section 1.6055-1(g).... To provide a clear, definite rule, these final regulations expressly provide a 30-day, automatic extension of time....

"[T]he Treasury Department and the IRS are adopting with one clarifying change the proposal for a permanent, automatic extension of time for furnishing written statements to individuals pursuant to Section 301.6056-1(g)(1).... To provide a clear, definite rule, these final regulations expressly provide a 30-day, automatic extension of time....

"The final regulations include clarifying, non-substantive changes to the language in proposed Section 1.6055-1(g)(4)(ii)(B) describing the alternative manner of furnishing [Form 1095-B to individuals]. The final regulations also modify proposed Section 1.6055-1(g)(4)(ii)(B)(2) to provide that a reporting entity using the alternative manner of furnishing must post a notice on its website by the date specified in Section 1.6055-1(g)(4)(i) of these final regulations."

[Also see technical correction, published in Federal Register on Mar. 8, 2023.]  MORE >>