Compliance May 9, 2011
VT Lawmakers Approve Tax Conformity to PPACA
May 9, 2011 (PLANSPONSOR.com) - Vermont lawmakers have approved a bill that would enable employers to offer coverage to employees’ adult children up to age 26 without the state taxing employees on the coverage.
Reported by PLANSPONSOR staff
Business Insurance reports that the measure would conform Vermont tax law to the federal health care reform law and subsequent Internal Revenue Service rules providing that the coverage can be extended on a tax-free basis through the end of the year in which the child turns 26.
Other states where statutes are not automatically amended to reflect changes in federal tax law have already approved similar measures (see Brown Pens CA Health Reform Conforming Bill).