The Patient Protection and the Affordable Care Act (Currently Unavailable)

Author: Lewis Taub

The rules concerning The Affordable Care Act (Obamacare) will be in full force beginning in January of 2015. At that point employers will need to offer medical insurance to employees who work at least thirty hours a week.

Too often accountants view this entire topic as nothing more than insurance rules that have little relevance to their daily work in either the public or private sector. However, the Obamacare rules are contained in the Internal Revenue Code and the applicable tax regulations. It is imperative that accountants are familiar with details of who must be offered medical insurance, to what extent the insurance must be offered and ways and means to potentially minimize the costs of Obamacare. In addition, a detailed understanding of the penalties associated with not offering medical insurance is essential in advising businesses on how to deal with the maze of rules. The webinar will explain the complicated rules in plain simple terms to maximize understanding.

Publication Date: August 2014

Designed For
CPAs, accountants, CFOs, and Controllers who deal with employers required to comply with Obamacare

Topics Covered

• Challenges over the years to Obamacare including the Supreme Court's review of the constitutionality of the law.
• Various types of plans which can be offered by employees
• Weighing the cost of providing health insurance to employees against the cost of the penalties for not offering insurance.
• How the penalties for not offering insurance are calculated and paid with tax return filings.

Learning Objectives

• Recognize the "employer and employee mandate" of Obamacare.
• Identify and become knowledgeable of all filing requirements under the new rules.
• Identify which employees must be offered insurance.
• Recognize all taxes and penalties as a result of Obamacare.
• Identify ways to minimize the costs of Obamacare.

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None