HCTT-2015-18: What Kind of Health Insurance Qualifies as Minimum Essential Coverage?
Internal Revenue Service (IRS) sent this bulletin at 03/19/2015 10:57 AM EDT
|
Useful Links:News EssentialsThe Newsroom TopicsIRS Resources
|
Issue Number: HCTT-2015-18Inside This IssueWhat Kind of Health Insurance Qualifies as Minimum Essential Coverage? The individual shared responsibility provision requires you and each member of your family to have basic health insurance coverage – also known as minimum essential coverage – qualify for an exemption, or make an individual shared responsibility payment when you file your federal income tax return. Many people already have minimum essential coverage and do not need to do anything more than maintain that coverage and report their coverage when they file their tax returns. Most taxpayers will simply check a box to indicate that each member of their family had qualifying health coverage for the whole year. Here are some examples of coverage that qualify as minimum essential coverage: Employer-sponsored coverage • Group health insurance coverage for employees under o a governmental plan such as the Federal Employees Health Benefit program • Self-insured group health plan for employees Individual health coverage: • Health insurance purchased directly from an insurance company Coverage under government-sponsored programs: • Medicare Part A coverage U.S. citizens, who are residents of a foreign country for an entire year, and residents of U.S. territories, are considered to have minimum essential coverage for the year. For more information on the types of coverage that qualify as minimum essential coverage and those that do not, as well as information on certain coverage that may provide limited benefits, visit the MEC page on IRS.gov/aca. Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov. This message was distributed automatically from the IRS Tax Tips mailing list. Please Do Not Reply To This Message. |