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.
See also: IRS sets health tax rules
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
