Beginning this year, health insurers have to send the Internal Revenue Service (IRS) information about health plan members and their insurance coverage, including their Social Security number (or other tax identification number). It’s one of the requirements of the Affordable Care Act (ACA).The ACA requires that everyone have qualifying insurance, qualify for an exemption, or potentially pay a tax penalty. The IRS will cross-check the information in tax returns against the information health insurers are required to submit for every person they cover. This IRS review will confirm that individuals have the required coverage and don’t have to pay a tax penalty.
Many insurance companies have been phasing out the use of SSNs for member identification. However, with the ACA requirements, health insurers will now be sending letters or otherwise reaching out to plan members asking for that information if they don’t already have it.
No comments:
Post a Comment