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 –
- Plan grandfathering pursuant to which health coverage in force at the time of the law’s passage may be continued,
- The prohibition of pre-existing condition exclusions,
- The proscription of lifetime and annual benefit limits,
- The limitation of health coverage rescissions,
- The requirement for certain patient protections, and
- 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.
No advance preparation needed
Program Level – Basic
Program prerequisites – None
Delivery method – QAS self-study
Recommended CPE credits – 4
Recommended field of study – Taxes
Course Learning Objectives
- 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.
Copyright 2024 by Winn Publications ALL RIGHTS RESERVED. NO PART OF THIS COURSE MAY BE REPRODUCED IN ANY FORM OR BY ANY MEANS WITHOUT THE WRITTEN PERMISSION OF THE COPYRIGHT HOLDER. All materials relating to this course are copyrighted by Winn Publications. Purchase of a course includes a license for one person to use the course materials. Absent specific written permission from the copyright holder, it is not permissible to distribute files containing course materials or printed versions of course materials to individuals who have not purchased the course. It is also not permissible to make the course materials available to others over a computer network, Intranet, Internet, or any other storage, transmittal, or retrieval system. This document is designed to provide general information and is not a substitute for professional advice in specific situations. It is not intended to be, and should not be construed as, legal or accounting advice which should be provided only by professional advisers. No advance preparation needed Program Level - Basic Program prerequisites - None Delivery method - QAS self-study Recommended CPE credits - 4 Recommended field of study - Business Management
