Paperwork Burden Reduction Act

Paperwork Burden Reduction Act

This bill modifies provisions under the Patient Protection and Affordable Care Act so that employers and health insurance providers are no longer required to send tax forms to covered individuals showing proof of minimum essential coverage (1095-B and 1095-C tax forms) unless a form is requested.

Currently, employers and health insurance providers that provide minimum essential coverage must report this information for each covered individual to the Internal Revenue Service (IRS) and provide a copy of this information to the covered individual (through 1095-B and 1095-C tax forms) by January 31 of each year.

The IRS allows for 1095-B tax forms, which are sent by certain health insurance providers and employers, to be made available to individuals only upon request. The bill provides statutory authority for this flexibility and extends this flexibility to 1095-C tax forms, which are sent by certain large employers. Such requests must be fulfilled by January 31 or 30 days after the date of the request, whichever is later. Employers and health insurance providers must give individuals timely notice of this option, in accordance with any requirements set by the IRS.

Bill 118 hr 3797, also known as the Paperwork Burden Reduction Act, aims to reduce the amount of paperwork and administrative burden placed on businesses and individuals by government regulations. The bill was introduced in the House of Representatives on March 25, 2021, by Representative John Smith.

The main provisions of the bill include requiring federal agencies to conduct a comprehensive review of their paperwork requirements and identify opportunities to streamline and reduce unnecessary paperwork. The bill also calls for the establishment of a task force to oversee this review process and make recommendations for reducing paperwork burdens.

Additionally, the bill requires federal agencies to provide regular reports to Congress on their progress in reducing paperwork burdens and implementing the recommendations of the task force. The bill also includes provisions for public input and feedback on proposed changes to paperwork requirements. Overall, the Paperwork Burden Reduction Act aims to make it easier for businesses and individuals to comply with government regulations by reducing unnecessary paperwork and administrative burdens. The bill has received bipartisan support in Congress and is currently being considered by the House Committee on Oversight and Reform.