CO-OP Consumer Protection Act of 2016

Bill: 114-s-3311
Sponsor: full_name: Sen. Sasse, Ben [R-NE]
Introduced: 2016-09-12
Policy area: Taxation
Latest action: action_date: 2016-09-12
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2016-09-12
action_desc: Introduced in Senate
text: <p><b>CO-OP Consumer Protection Act of 2016</b></p> <p> This bill amends the Internal Revenue Code to exempt from penalties for failing to purchase and maintain minimum essential health care coverage individuals whose coverage under a plan offered by a qualified nonprofit health insurance issuer receiving funds through the Consumer Operated and Oriented Plan program was terminated. </p>

tv_txt: II 114th CONGRESS 2d Session S. 3311 IN THE SENATE OF THE UNITED STATES September 12, 2016 Mr. Sasse (for himself, Mr. Portman , Mr. Cotton , Mr. McCain , and Mr. Vitter ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to exempt individuals whose health plans under the Consumer Operated and Oriented Plan program have been terminated from the individual mandate penalty.

1. Short title This Act may be cited as the CO-OP Consumer Protection Act of 2016 . 2. Exemption of participants in terminated plans under Consumer Operated and Oriented Plan program (a) In general Subsection (e) of section 5000A of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (6) Participants in certain terminated Consumer Operated and Oriented Plan program plans Any applicable individual, if— (A) the individual was enrolled in a qualified health plan offered by a qualified nonprofit health insurance issuer (as defined in subsection (c) of section 1322 of the Patient Protection and Affordable Care Act) receiving funds through the Consumer Operated and Oriented Plan program established under such section for such plan, and (B) during any month while the individual was so enrolled, such issuer terminated or otherwise discontinued providing all plans of the issuer in the area in which the individual resides, for such month and any subsequent month. . (b) Effective date The amendment made by this section shall apply to months in taxable years beginning after December 31, 2013.