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New IRS Regulation Requires Reporting For Catastrophic Plans

(August 23, 2016, 1:31 PM EDT) -- WASHINGTON, D.C. — Health insurers must report on individuals who sign up for catastrophic plans under newly proposed Internal Revenue Service rules that also impact the collection of taxpayer identification numbers (TIN).

(IRS regulation available. Document #93-160824-010X.)

Currently, insurers are not required to disclose when individuals sign up for catastrophic plans through an exchange because the exchanges are expected to disclose that information. However, exchanges report only on qualified health plans, which under ACA Section 36B(c)(3)(A) excludes catastrophic plans. As a result no entity currently reports...
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