IRS Releases New Guidance on COBRA Health Coverage Premium Assistance
The Internal Revenue Service issued Notice 2021-46 which provides additional guidance on issues relating to the application of provisions in the American Rescue Plan Act that created temporary premium assistance for COBRA continuation health coverage.
In the new guidance, which was published in the form of a question-and-answer document, the IRS supplements Notice 2021-31 issued in May and addresses additional issues. Topics addressed in the guidance document include: (1) eligibility for COBRA premium assistance; (2) dental and vision insurance coverage; and (3) clarifying entities that may claim the COBRA premium assistance tax credit.
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