Healthcare Reform Affordable Care Act: 2013 Update (Currently Unavailable)

Author: Paul J. Winn

The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, is likely to affect virtually every person and institution in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers, employers and individuals.
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.

Designed For
Practitioners that need a better understanding of the Patient Protection and Affordable Care Act (PPACA).

Topics Covered

• Plan grandfathering
• 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
• The general requirement for universal health care coverage
• Tax credits available to small businesses
• Various personal income tax changes affecting taxpayers
• Tax credits and tax penalties to help enforce individuals maintain minimum essential coverage.

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 employers regarding employee health coverage;
• Compute the tax penalties imposed under the PPACA for an employer's failure to meet the applicable shared responsibility requirements; and
• Calculate the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (5 hours)

Program Prerequisites
None.

Advance Preparation
None.