Bill > HR4070

This bill aims to streamline the employer reporting process and strengthen the eligibility verification process for the premium assistance tax credit and cost-sharing subsidy under the Affordable Care Act (ACA). The key provisions include: 1. Establishing a voluntary prospective reporting system that allows employers to report information about their health plans to the Department of the Treasury prior to the start of the open enrollment period, which can be used by the Exchanges and the Internal Revenue Service (IRS) to determine employee eligibility for premium tax credits and cost-sharing subsidies. 2. Exempting employers who use the prospective reporting system from certain reporting requirements under the Internal Revenue Code. 3. Allowing the use of an individual's full name and date of birth instead of their Social Security number for reporting purposes to protect dependent privacy. 4. Permitting the electronic delivery of employee and enrollee statements related to health insurance coverage. 5. Requiring the Government Accountability Office to conduct studies on the employer notification process for premium tax credits and cost-sharing subsidies, as well as the functionality of the new prospective reporting system. The goal of the bill is to reduce compliance burdens on businesses and individuals while still providing the information necessary to enforce the ACA's provisions related to premium assistance and cost-sharing subsidies.

Budget and Finance, Health and Social Services

https://www.congress.gov/bill/116th-congress/house-bill/4070/all-info