Healthcare Reform - Affordable Care Act Tax Provisions 2025Code: 26-ACAPROV

70 pages
Course description and objectives:

Introduction to the Course

The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, affects a wide range of institutions in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers and employers.  

In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.

In so doing, it will consider the:

·        Coverage-related provisions of the PPACA addressing –

o   Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,

o   The prohibition of pre-existing condition exclusions,

o   The proscription of lifetime and annual benefit limits,

o   The limitation of health coverage rescissions,

o   The requirement for certain patient protections, and

o   The requirement that plans covering children extend child coverage until age 26;

·        Tax credits available to small businesses to encourage them to sponsor employee health plans;

·        Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;

·        Various personal income tax changes affecting taxpayers; and

·        Tax credits authorized to help individuals maintain minimum essential coverage.

Learning Objectives

Upon completion of this course, you should be able to:

• ·        List the principal healthcare provisions of the PPACA;
• ·        Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans;
• ·        Recognize the shared responsibility requirements for applicable large employers regarding employee health coverage;
• ·        Compute the tax penalties imposed under the PPACA for a large employer’s failure to meet the applicable shared responsibility requirements; and
• ·        Calculate the tax credits designed to help ensure that individuals are able to maintain minimum essential coverage.

Presentation Method: QAS Self-Study

Category: Taxes

CPE credit: 4 Hours

Program Level: Update

Prerequisites: None

Advance Preparation: None

Exam expiration date: Participants must submit exams for grading within one year from the date of purchase