Healthcare Reform: The Affordable Care Act Tax Provisions

  • Credits: 6
  • Format: Self-Study eBook
  • Field of Study: Federal Tax Law
  • Author/Speaker: Paul J. Winn, CLU, ChFC
Course ID: Advanced Preparation: Experience Level:
EWTFM-T-01689-21-S | 6233-CE-0412 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© April 2021 General Understanding of Taxes Self-Study eBook

The landmark legislation is 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.

Topics include:
  • Coverage-related provisions of the PPACA addressing:
      • Plan grandfathering according to which health coverage in force at the time of the law's passage may be continued,
      • The proscription of a lifetime and annual benefit limits,
      • The limitation of health coverage rescissions,
      • The requirement for certain patient protections, and
      • The requirement that plans to cover 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 are authorized to help individuals maintain minimum essential coverage.

Learning Objectives:

After reading the course material, you will 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 can maintain minimum essential coverage.

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s: