As of January 1, 2014, the Act?ÃÃs ?ãindividual mandate?ÃÂ¥ requires individuals who are not otherwise exempt to either maintain MEC for themselves and their non-exempt family members, or pay a shared-responsibility payment with their federal tax returns (the ?ãMandate Payment?ÃÂ¥).?á MEC includes coverage under an eligible employer-sponsored plan (an ?ãEligible Plan?ÃÂ¥), such as a group health plan.?á An individual may be unable to enroll in coverage by January 1, 2014 under an Eligible Plan with a non-calendar plan year if the plan prohibits mid-year enrollments absent the occurrence of a designated change-in-status event.?á The IRS recently issued Notice 2013-42, which provides relief from the Mandate Payment for certain individuals who are eligible to enroll in an Eligible Plan with a non-calendar plan year that begins in 2013 and ends in 2014.
A copy of IRS Notice 2013-42 is available here.
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IRS Issues Notice Providing Certain Transition Relief from the Individual Mandate Payment
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