Filed Under:Markets, Employee Benefits

IRS makes sudden PPACA insurer tax change

The Notice 2014-47 fee break applies only to the 2014 fee year, officials say.
The Notice 2014-47 fee break applies only to the 2014 fee year, officials say.

The Internal Revenue Service has announced a sudden interpretation change that could help cut some quick-moving health insurers' Patient Protection and Affordable Care Act (PPACA) health insurance provider fee payments.

The IRS says a "controlled group" of insurers can reduce its PPACA health insurance provider fee tab by leaving any members that are not "covered entities" out of net premium calculations. The group can get the fee reduction only if it faxes a corrected Form 8963 health insurance provider information report to the IRS at (877)-797-0235 by Monday.

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Nichole Morford

Nichole Morford
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