The IRS will not hold a public hearing on how to calculate health insurance tax credits

The US Treasury Department has canceled a public hearing on proposed changes to how "coverage month" is defined for health insurance tax credits. This means the public will not get to comment on rules that affect how much financial help people receive to pay for health insurance.

The definition of a "coverage month" directly impacts how much money individuals receive as a premium tax credit to buy health insurance. Without a public hearing, the IRS can move forward with its proposed changes without direct public input. This could alter the financial burden for many people who rely on these credits to afford healthcare.