Latest regulations surrounding health insurance mandates

At the end of January, the U.S. Department of Health and Human Services and the Treasury issued a set of proposed rules to guide proper implementation of the Affordable Care Act's mandates in 2014.

The guidelines explain the healthcare reform law's shared responsibility tax, how to determine who is exempt from it and how to calculate the amount of the tax. The HHS and the Treasury drafted a fact sheet to help answer any questions employers or individuals may have regarding the regulations, as well as detailed information to inform the public. The goal of the proposed rules is to make it easier to implement the tax and its exemptions. 

It is important for both employers and employees to understand the what the ACA mandates in terms of coverage requirements and circumstances allowing certain individuals from avoiding the tax. There is minimum essential coverage regulations for several public health insurance plans, and the proposed rules look to clarify what is expected of both employers and employees to get as many Americans covered as possible.