Notice 2012-31 describes and requests comments on several possible approaches to determining whether health coverage under an eligible employer-sponsored plan provides minimum value.  Beginning in 2014, eligible individuals who purchase coverage under a qualified health plan through an Affordable Insurance Exchange may receive a premium tax credit under § 36B only if they are not eligible for other minimum essential coverage, including coverage under an employer-sponsored plan that is affordable and provides minimum value.  A plan fails to provide minimum value if the plan covers less than 60% of the total allowed costs of benefits provided under the plan. If an employee receives a premium tax credit an applicable large employer may be liable for an assessable payment under § 4980H.   

Notice 2012-32 invites comments on the reporting requirements under § 6055 of the Internal Revenue Code for health insurance issuers, government agencies, employers that sponsor self-insured plans, and other persons that provide minimum essential coverage to an individual. Minimum essential coverage includes individual health insurance coverage, eligible employer-sponsored plans, and government-sponsored coverage such as Medicare, Medicaid, TRICARE and veterans’ health care. Entities providing minimum essential coverage after January 1, 2014, must file annual returns reporting information for each individual covered.