Health Care Reform Act: How the Recent Changes Will Affect Your Clients(Completed)
Date: Thursday, October 18, 2012
Instructor: William F Murphy
Begin Time:  9:00 am Pacific Time
10:00 am Mountain Time
11:00 am Central Time
12:00 pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and RTRPs
2 hours Federal Tax Law for CTEC

The Patient Protection and Affordable Care Act(PPAC) is one of the most critical pieces of legislation that we have seen in many years. As we have just seen, the Supreme Court has now ruled on its merits and fundamental purpose. This class will help highlight this decision as well as the minimum essential coverage under PPAC and how the recent changes will affect your clients.

This course will discuss its requirements and provisions as well as explain how the provisions of PPAC affect individuals by distinguishing between the types of premium assistance subsidies and credits available to individuals. Along with outlining the new tax consequences of PPAC for individuals as relates to itemized deductions, the hospital insurance tax, withdrawal penalties from HSAs, and loan repayment tax relief for health professionals.Lastly, the course will review some of the provisions of PPAC that now affect businesses by updating you on the requirements that employers must provide and the penalties associated with failure to provide adequate coverage.

Who Should Attend
CPAs making health insurance decisions for themselves and their companies. CPAs and other advisors seeking to guide clients in making informed health care decisions

Topics Covered

  • Fees, taxes, penalties relating to new mandatory health insurance
  • Provisions taking effect in 2013 as well as planning for 2012 and later years for provisions that is not enforceable.
  • Mandated health insurance coverage and the courts interpretations of the bill as to its enforceability.
  • Ongoing impact of the political environment and discussion of the impact to small clients.

Learning Objectives

  • Understand the Patient Protection and Affordable Care Act (PPACA) and the impact of the recent U.S. Supreme Court decision. A look at what changes are coming and which part of the law will need to be modified.
  • Understanding the implementation of the PPACA.
  • Review the past and current activity in Washington D.C. on healthcare reform in light of the November election.
  • Explore the unintended consequences of the changes made by the court
  • Overview of how effective HSA's can be to a client in 2012 and beyond.
  • Predictions about additional changes in the future of healthcare reform (Did anyone say "Broccoli"?).

Level
Update

Format
Live webcast

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A basic understanding of the PPAC.

Advance Preparation
None