Beginning on or after January 1, 2014, Note 22 – Events Subsequent contained a data-captured table in which insurance companies were to disclose information regarding the Affordable Care Act (ACA) assessment on entities that issue health insurance. Pursuant to Section 9010 of the ACA, a reporting entity’s portion of the assessment is paid no later than September 30 of the applicable calendar year (the fee year).1
- The term “fee year” means the calendar year in which the assessment must be paid to the U.S. Treasury. The fee amount was determined based on the premium information reported in the calendar year immediately before the fee year.
The Section 9010 fee has been repealed beginning January 1, 2021. In response to the repeal, the Statutory Accounting Principles Working Group (SAPWG) and the Blanks Working Group (BWG) adopted proposals that 1) moved SSAP No. 106 and INT 18-02 to Appendix H – Superseded SSAPs and Nullified INTs of the AP&P Manual (AP&P Ref #2020-05: Repeal of the ACA Section 9010 Assessment) and 2) removed the tabular Note 22 disclosure from the 2021 Annual Statement blank and instructions (2020-28BWG Modified).
The NAIC also published informal disclosure guidance applicable to Note 22 for year-end 2020 reporting.
Note 22 is not a required quarterly note. However, based on the information above, the following treatment of Note 22 is recommended for Q1-Q3 2021. The data-captured table will be removed from Note 22 for 2021 Annual reporting.
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1 SSAP No. 106 – Affordable Care Act Section 9010 Assessment