On December 29, 2014, final regulations were issued under Section 501(r), which was added to the Internal Revenue Code by the Patient Protection and Affordable Care Act in 2010. Under Section 501(r), tax-exempt hospitals must meet four new requirements in order to maintain their Section 501(c)(3) tax-exempt status: adoption of a written financial assistance policy and a written emergency care policy, compliance with certain billing and collection practices, limits on charges to patients eligible for financial assistance, and performance of a community health needs assessment every three years. Tax-exempt hospitals must be in compliance with the final regulations by December 2015.

This course will focus on key highlights of the final regulations for three categories of the financial-related requirements of Section 501(r).