08 Oct

ACA requires insurers to collect Social Security numbers

ACA requires insurers to collect Social Security numbers

Originally posted by aetna.com.

Beginning this year, health insurers have to send the Internal Revenue Service (IRS) information about health plan members and their insurance coverage, including their Social Security number (or other tax identification number). It’s one of the requirements of the Affordable Care Act (ACA).

The ACA requires that everyone have qualifying insurance, qualify for an exemption, or potentially pay a tax penalty. The IRS will cross-check the information in tax returns against the information health insurers are required to submit for every person they cover. This IRS review will confirm that individuals have the required coverage and don’t have to pay a tax penalty.

Read more about it.