Don’t panic if you’re not fully conversant on all the details of health care reform. The IRS, Department of Labor and other federal agencies will be rolling out regulations to put meat on the bones of this often-confusing law.
“We expect a lot of changes to this law through the regulations that will be coming out in the next few years,” said Melissa Listug Klick, attorney of the Paul Plevin law firm in San Diego.
The IRS last month published the first round of this avalanche of regulations. The guidance confirmed that employer plans can provide health coverage free from federal income tax to employees’ children under age 27. The IRS also published rules explaining which employers qualify for the new Small Business Health Care Tax Credit.
Find links to all IRS rules on the new health care law at www.IRS.gov.