House Passes Bill Affecting Advance Premium Tax Credit

Earlier this week, the House of Representatives passed the Verify First Act – which would serve as an amendment to the premium tax credit under the Affordable Care Act (ACA) and to the premium assistance credit under the proposed American Health Care Act (AHCA). The bill provides that an individual is not entitled to advance payments unless HHS verifies with the Social Security Administration or Homeland Security that the individual is a U.S. citizen or lawful alien. Only once the citizenship status is confirmed with the Treasury will an individual be eligible for such tax credits. This bill will be voted upon independently of the AHCA, and it would take effect regardless of whether the AHCA is signed into law.

The post House Passes Bill Affecting Advance Premium Tax Credit appeared first on Sovos.

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Author

Tom Hospod

Tom Hospod is a Regulatory Counsel at Sovos Compliance. Within Sovos’ Regulatory Analysis function, Tom focuses om Affordable Care Act (ACA) reporting, Tax Withholding, and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.
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