Notice 2014-47 - “Covered entity” for health insurance provider fee for the 2014 fee year 

August 12:  The IRS today released an advance copy of Notice 2014-47 with guidance as to how the IRS will administer the definition of a “covered entity” for purposes of the health insurance provider fee for the 2014 fee year.

Today’s notice provides a deadline of August 18, 2014, for health insurance providers to correct a previously submitted Form 8963 for the 2014 fee year to apply the guidance in Notice 2014-47.

Notice 2014-47 [PDF 14 KB] is intended to:

  • Resolve confusion as to the scope of the exclusions from the general definition of “covered entity” under the Affordable Care Act section 9010
  • Clarify that a controlled group does not have to report for a controlled group member who would not qualify as a covered entity in the 2014 fee year if it were a single-person covered entity

Corrective action due by August 18

Notice 2014-47 provides that any entity that needs to correct a previously submitted Form 8963, Report of Health Insurance Provider Information, because of the clarification provided today must fax the corrected form no later than Monday, August 18, 2014. Entities that reasonably project—but do not yet know—that they will qualify for one of the exclusions under ACA section 9010 are permitted to submit a corrected Form 8963.

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