ITB 12-07: IRS issues temporary regulations for recognition as a qualified nonprofit health insurance issuer

Insurance Tax Bulletin
The IRS recently issued temporary regulations (T.D. 9574) (the "Temporary Regulations") that provide the IRS with the authority to determine the procedures for the application for recognition as a §501(c)(29) qualified nonprofit health insurance issuer ("QNHII") to benefit from federal income tax exemption status for organizations that participate in the Consumer Operated and Oriented Plan ("CO-OP") programs established by the Centers for Medicare and Medicaid Services. The Temporary Regulations serve to address the requirements of §501(c)(29) of the Internal Revenue Code of 1986, as amended, (the "Code"), which was added by §1322(h) of the Patient Protection Affordable Care Act of March 23, 2010.


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