The Affordable Care Act (ACA), enacted into law on March 23, 2010, added Section 501(r) requirements to the Internal Revenue Code that a 501(c)(3) tax-exempt hospital must satisfy to maintain tax-exempt status. The financial assistance policy (FAP) is a requirement mandated by the ACA and implemented as part of the IRS. As per IRS 501(r), an FAP must apply to all medically necessary care provided by the hospital.
