Territory Health Insurance Tax Relief Act of 2016

Bill: 114-s-3331
Sponsor: full_name: Sen. Rubio, Marco [R-FL]
Introduced: 2016-09-14
Policy area: Health
Subjects: American Samoa

Caribbean area

Government information and archives

Guam

Health care costs and insurance

Health care coverage and access

Insurance industry and regulation

Northern Mariana Islands

Puerto Rico

U.S. territories and protectorates

User charges and fees

Virgin Islands
Latest action: action_date: 2016-09-14
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2016-09-14
action_desc: Introduced in Senate
text: <p><b>Territory Health Insurance Tax Relief Act of 2016</b></p> This bill amends the Patient Protection and Affordable Care Act to exclude premiums paid by residents of U.S. territories from a health insurer's net premiums when calculating the annual fee on the health insurer, thereby lowering the fee for health insurers that collect such premiums. These premiums are still included in total health premiums when calculating the annual fee on health insurers, thus the total amount collected annually from health insurers is reduced.

tv_txt: II 114th CONGRESS 2d Session S. 3331 IN THE SENATE OF THE UNITED STATES September 14, 2016 Mr. Rubio introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To exempt health insurance of residents of United States territories from the annual fee on health insurance providers.

1. Short title This Act may be cited as the Territory Health Insurance Tax Relief Act of 2016 . 2. Health insurance of residents of United States territories exempt from annual fee on health insurance providers (a) In general Section 9010(b) of the Patient Protection and Affordable Care Act is amended by adding at the end the following new paragraph: (4) Exception for health insurance of residents of United States territories (A) In general Solely for purposes of paragraph (1)(A), the term United States health risk shall not include the health risk of any individual who is a bona fide resident of Guam, American Samoa, the Northern Mariana Islands, Puerto Rico, or the Virgin Islands (as determined under section 937(a)). (B) Exception not to increase fee allocation The amount determined under paragraph (1)(B) shall be determined without regard to subparagraph (A) of this paragraph. . (b) Reporting Section 9010(g)(1) of the Patient Protection and Affordable Care Act is amended by inserting (and the amount of such net premiums to which subsection (b)(4)(A) applies) before the period at the end. (c) Effective date (1) In general The amendments made by this section shall apply to calendar years beginning after the date of the enactment of this Act. (2) Transitional rule for reporting For purposes of applying the amendment made by subsection (a) with respect to the first calendar year beginning after the date of the enactment of this Act, the Secretary of the Treasury (or the Secretary’s designee) shall provide a method for covered entities to report the information described in the amendment made by subsection (b) for the calendar year which precedes such first calendar year.