United States

Making Sense of the Final Section 501(r) Regulations

Thursday March 05, 2015 11:00 AM - 12:00 PM EST
From KPMG TaxWatch

KPMG TaxWatch


Event Overview:
Our professionals will discuss the final regulations under section 501(r) of the Patient Protection and Affordable Care Act.

Event Overview

The Patient Protection and Affordable Care Act added specific tax exemption requirements for hospitals to the Internal Revenue Code. Section 501(r) addresses community health needs assessments, financial assistance and emergency care policies, limitations on charges, and billing and collection policies. Failure to meet these requirements can result in the hospital losing its tax-exempt status.

More than four and half years after the enactment of the Affordable Care Act, the government has issued final regulations under section 501(r). To help your organization take the necessary steps to comply with the final regulations, our professionals will discuss:

  • The organizations and facilities that are subject to section 501(r).
  • The requirements for community health needs assessments and implementation strategies, financial assistance policies, limitations on charges, and billing and collection policies.
  • Reporting requirements.
  • The significant differences between the final and proposed regulations.
  • The delayed applicability date for compliance with the final regulations.
  • The consequences for non-compliance, including the relief that may be available.
  • The steps that must be followed to comply with the new regulations.

In the meantime, see below for helpful information about the 501(r) regulations.

Final Regulations Issued under Section 501(r)