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Rule

Shared Responsibility Payment for Not Maintaining Minimum Essential Coverage; Correction

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AGENCY:

Internal Revenue Service (IRS), Treasury.

ACTION:

Correcting amendment.

SUMMARY:

This document contains corrections to final regulations (TD 9632) that were published in the Federal Register on Friday, August 30, 2013. The final regulations provide guidance to individual taxpayers on the liability under section 5000A of the Internal Revenue Code for the shared responsibility payment for not maintaining minimum essential coverage.

DATES:

This correction is effective December 26, 2013 and applicable beginning August 30, 2013.

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FOR FURTHER INFORMATION CONTACT:

John Lovelace, at (202) 622-4960 (not a toll free number).

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SUPPLEMENTARY INFORMATION:

Background

The final regulations (TD 9632) that are the subject of this correction is under section 5000A of the Internal Revenue Code.

Need for Correction

As published, the final regulations (TD 9632), August 30, 2013 (78 FR 53646), contain errors that may prove to be misleading and are in need of clarification.

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List of Subjects in 26 CFR Part 1

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Correction of Publication

Accordingly, 26 CFR part 1 is corrected by making the following correcting amendments:

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PART 1—INCOME TAXES

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Authority: 26 U.S.C. 7805 * * *

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Section 1.5000A-3 also issued under 26 U.S.C. 5000A(e)(4).

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Table of Contents.
* * * * *
Minimum essential coverage.

(a) * * *

(b) * * *

(2) * * *

(iii) Limited-benefit TRICARE programs.

* * * * *
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Maintenance of minimum essential coverage and liability for the shared responsibility payment.
* * * * *

(d) * * *

(6) Group health insurance coverage. Group health insurance coverage has the same meaning as in section 2791(b)(4) of the Public Health Service Act (42 U.S.C. 300gg-91(b)(4)).

(7) Group health plan. Group health plan has the same meaning as in section 2791(a)(1) of the Public Health Service Act (42 U.S.C. 300gg-91(a)(1)).

* * * * *
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Minimum essential coverage.
* * * * *

(b) * * *

(1) * * *

(iv) TRICARE. Medical coverage under chapter 55 of Title 10, U.S.C., including coverage under the TRICARE program;

* * * * *

(2) * * *

(iii) Limited-benefit TRICARE programs. [Reserved]

(c) * * *

(1) * * *

(i) * * *

(B) Any other plan or coverage offered in the small or large group market within a State; or

* * * * *

(2) Government-sponsored program generally not an eligible employer-sponsored plan. Except for the program identified in paragraph (b)(1)(vii) of this section, a government-sponsored program described in paragraph (b) of this section is not an eligible employer-sponsored plan.

(d) * * *

(2) Qualified health plan offered by an exchange. * * * If a territory of the United States elects to establish an Exchange under section 1323(a)(1) and (b) of the Affordable Care Act (42 U.S.C. 18043(a)(1), (b)), a qualified health plan offered by that Exchange is a plan in the individual market.

* * * * *
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Exempt individuals.
* * * * *

(e) * * *

(4) * * *

(ii) * * *

(D) * * * For each individual, affordability under paragraph (e)(4) of this section is determined separately for each period described in paragraph (e)(4)(ii)(E) of this section that is less than a 12-month period. * * *

(iii) * * * Unless stated otherwise, in each example the taxpayer's taxable year is a calendar year, the rate of premium growth has not exceeded the rate of income growth since 2013, and the taxpayer is ineligible for any of the exemptions described in paragraphs (a) through (d) and (f) through (j) of this section for a month.

Example 1. Unmarried individual with no dependents. * * *

* * * * *
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Computation of shared responsibility payment.
* * * * *

(d) * * *

Example 1. * * *

(ii) * * * Under paragraph (b)(2)(i) of this section, G's flat dollar amount is $695 (the lesser of $695 and $2,085 ($695 × 3)). * * *

Example 5. * * *

(iii) * * * Under paragraph (b)(2)(i) of this section, the flat dollar amount is $2,085 (the lesser of $2,085 or $2,085 ($695 × 3)). * * *

(iv) * * * Therefore, under paragraph (a) of this section, the shared responsibility payment imposed on S Start Printed Page 78256and T for 2016 is $1,911.24 (the lesser of $1,911.24 or $11,000).

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Martin V. Franks,

Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration).

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[FR Doc. 2013-30742 Filed 12-24-13; 8:45 am]

BILLING CODE 4830-01-P