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IRS to Close “Loophole” on “Sub-Standard” Plans (Title Shortened
Proskauer's ERISA Practice Center Blog ^ | November 6th, 2014 | By Paul M. Hamburger, Stacy Barrow and Tzvia Feiertag

Posted on 11/10/2014 8:47:20 AM PST by justlittleoleme

On November 4, 2014, the Internal Revenue Service (“IRS”) announced that it intends to close a perceived “loophole” in health care reform. This so-called loophole allows employers to offer low cost health plans that don’t cover inpatient hospitalization services or physician services (or both). If that coverage were treated as “minimum value” coverage, then employers could avoid all pay-or-play penalties with low cost coverage and covered individuals would not be able to benefit from premium assistance or subsidies in the health insurance Marketplace.

What does this IRS Notice Mean?

Once this new rule is final, it means that Non-Hospital/Non-Physician Services Plans will not be treated as “minimum value” plans for premium subsidy purposes or pay-or-play purposes. Therefore, even if individuals have this coverage, they could go to the Marketplace and get a premium tax credit or subsidy. In turn, that could subject an employer to a “B” penalty (the $3,000 “unaffordable coverage” penalty), as the plan will not provide minimum value. Employers presumably could still avoid the “A” penalty for failing to offer coverage to at least 95% of full-time employees (70% in 2015).

(Excerpt) Read more at erisapracticecenter.com ...


TOPICS: Culture/Society
KEYWORDS: healthcare; huac; husseins; obamacare; unaffordable; unaffordablecareact; youcankeepitgate
The IRS Unaffordable Health Act Enforcement agency....
1 posted on 11/10/2014 8:47:20 AM PST by justlittleoleme
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To: justlittleoleme

More job closings to be announced.


2 posted on 11/10/2014 8:51:16 AM PST by jsanders2001
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To: jsanders2001

yeah, hows this for a minimum plan? YOURE FIRED!!!


3 posted on 11/10/2014 8:53:12 AM PST by C. Edmund Wright (www.FireKarlRove.com NOW)
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To: justlittleoleme

The irs can’t close a loop hole in the law. The law is the law

If that were possible, it would be possible for citizens to detain IRS loophole closers for indefinite periods


4 posted on 11/10/2014 8:54:46 AM PST by bert ((K.E.; N.P.; GOPc.;+12, 73, ..... Obama is public enemy #1)
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To: justlittleoleme

5 posted on 11/10/2014 8:58:27 AM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: bert

I fear that the way it is written, Obamacare is a law which empowers Federal agencies to “re-legislate” at will.


6 posted on 11/10/2014 8:59:58 AM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: bert
The irs can’t close a loop hole in the law. The law is the law

just watch them. Under this administration, and no thanks to congress or the Supreme court, laws are nothing more than words on parchment and we the people are just obstacles to those in DC and the oligarchs who own them.

7 posted on 11/10/2014 9:00:14 AM PST by drypowder
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#YOUCANKEEPITGATE


8 posted on 11/10/2014 9:00:22 AM PST by a fool in paradise (Hey Obama: If Islamic State is not Islamic, then why did you give Osama Bin Laden a muslim funeral?)
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To: justlittleoleme; Taxman

America needs to close the IRS loophole permanently by abolishing it.


9 posted on 11/10/2014 9:00:34 AM PST by TADSLOS (The Event Horizon has come and gone. Buckle up and hang on.)
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To: justlittleoleme

Defund the IRS. That should make the Obamacare monster go away.


10 posted on 11/10/2014 9:06:24 AM PST by BuffaloJack (Muslim Creeping Conquest of America and Canada)
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To: drypowder

Revolution is the only answer. We need to remind the government who they represent.


11 posted on 11/10/2014 9:09:20 AM PST by boycott
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To: justlittleoleme

There goes my CVS Mini-Clinic plan.

And, it was a good one too. I could get a broken arm set, the pain meds, a tube of Penetration H and a bag of Circus Peanuts at the same place.


12 posted on 11/10/2014 9:17:16 AM PST by moovova
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To: jsanders2001
"More job closings to be announced." ******************************************************************** And, once the Supreme Court announces its decision in King v. Burwell​ next June (assuming they decide it correctly), it will be accompanied by further migrations of businesses from states with Obamacare STATE exchanges to those states which have decided to NOT set up State exchanges. In other words businesses will move from Blue (or RINO) states to Red states.
13 posted on 11/10/2014 9:22:15 AM PST by House Atreides
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To: bert

That’s what I was wondering-since when does the IRS define the law?


14 posted on 11/10/2014 9:23:17 AM PST by mrsmel (One Who Can See)
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To: justlittleoleme

How about the IRS close the “loophole” on criminal political corruption within its own ranks by looking for Lois Lerner’s emails?


15 posted on 11/10/2014 9:26:54 AM PST by Amagi (Lenin: "Socialized Medicine is the Keystone to the Arch of the Socialist State.")
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To: bert
The irs can’t close a loop hole in the law. The law is the law

The IRS sees itself as above the law — they take finances and property without due process [that is, jury trial] and have been given so much latitude that they can at-will declare tax-shelters void even if they are provided for by law.

If that were possible, it would be possible for citizens to detain IRS loophole closers for indefinite periods

That may need to happen.

16 posted on 11/10/2014 9:35:00 AM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: justlittleoleme

The IRS now owns health care.

America is totally screwed.

I am getting my **** together so I can flee.


17 posted on 11/10/2014 9:37:00 AM PST by Lazamataz (First we beat the Soviet Union. Then we became them. We have no 'news media', only a Soviet Pravda.)
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To: boycott
Revolution is the only answer.

Seriously. It's time.

18 posted on 11/10/2014 9:38:01 AM PST by Lazamataz (First we beat the Soviet Union. Then we became them. We have no 'news media', only a Soviet Pravda.)
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To: Lazamataz
>> Revolution is the only answer.
>
> Seriously. It's time.

I agree that the evils we suffer are quickly becoming more than is sufferable; I think there is one last way to head off another revolution: an Article V amendment convention.

We could add amendments to reform the tax system (specifically disallowing withholdings and seizing of property/money w/o a jury-trial [and explicitly acknowlidging the power of the jury to forgive any debt the defendant owes]), and limiting the Congress in the debts it's allowed to assume [or force states to assume]. I have a working copy of such amendments here.

19 posted on 11/10/2014 9:44:49 AM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: moovova

To paraphrase Homer Simpson, “Mmmmmmm...circus peanuts.”


20 posted on 11/10/2014 9:51:59 AM PST by mouske
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