All Information (Except Text) for S.1996 - Commonsense Reporting Act of 2015114th Congress (2015-2016)
|Sponsor:||Sen. Warner, Mark R. [D-VA] (Introduced 08/05/2015)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 05/18/2016 Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 114-675. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Titles as Introduced
Commonsense Reporting Act of 2015
Actions Overview (1)
|08/05/2015||Introduced in Senate|
08/05/2015 Introduced in Senate
All Actions (2)
|05/18/2016||Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 114-675.|
|08/05/2015||Read twice and referred to the Committee on Finance.|
Action By: Senate
05/18/2016 Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 114-675.
08/05/2015 Read twice and referred to the Committee on Finance.
|Sen. Portman, Rob [R-OH]*||08/05/2015|
|Sen. Heitkamp, Heidi [D-ND]||09/10/2015|
|Sen. Kaine, Tim [D-VA]||09/30/2015|
|Sen. Shaheen, Jeanne [D-NH]||10/06/2015|
|Sen. Coons, Christopher A. [D-DE]||11/16/2015|
|Sen. Bennet, Michael F. [D-CO]||04/27/2016|
|Sen. Kirk, Mark Steven [R-IL]||09/14/2016|
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Finance||08/05/2015||Referred to|
|Senate Small Business and Entrepreneurship||05/18/2016||Hearings by|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
- Administrative law and regulatory procedures
- Congressional oversight
- Department of the Treasury
- Employee benefits and pensions
- Government information and archives
- Government studies and investigations
- Health care costs and insurance
- Health care coverage and access
- Income tax credits
- Personnel records
- Right of privacy
- Tax administration and collection, taxpayers
Latest Summary (1)
Introduced in Senate (08/05/2015)
Commonsense Reporting Act of 2015
This bill amends the Patient Protection and Affordable Care Act (PPACA) and the Internal Revenue Code to modify the requirements for employers to report health insurance coverage information to the Internal Revenue Service (IRS) by the end of the tax year.
The bill changes the information that is required and permits employers to voluntarily report the information prior to the beginning of open enrollment.
The Department of the Treasury must develop a prospective reporting system to permit:
- employers to voluntarily report specified health insurance coverage information before the annual open enrollment period;
- the exchanges, the Federal Marketplace Data Services Hub, and the IRS to access the information to provide the Department of Health and Human Services with information related to eligibility for advance payment of premium tax credits and cost-sharing subsidies;
- the exchanges to communicate with employers and employees regarding eligibility for the tax credits or cost-sharing subsidies; and
- employers to provide updates to the Federal Marketplace Data Services Hub regarding changes in coverage for employees.
At the time of enrollment, exchanges must provide employers the names of employees and dependents that enroll in a qualified health plan for a year.
If a health insurance issuer or employer is unable to obtain the Taxpayer Identification Number of a dependent, Treasury may permit the individual's full name and date of birth to be used instead.
Employers participating in the reporting system established by this bill are exempt from the requirement to report health insurance coverage information to the IRS by the end of the tax year.