Healthcare Reform: The Affordable Care Act Tax Provisions

Upon successful completion of the course, participants will be able to:

Chapter 1

• Identify the rules applicable to –

·grandfathered health plans,

·the use of pre-existing condition exclusions, and

·annual and lifetime benefit limits;

• List the conditions that would permit an insurer to rescind health insurance coverage and the applicable notice requirements; and
• Recognize the requirements imposed by healthcare reform legislation with respect to –

·patient protection provisions, and

·dependent coverage to young adults.

Chapter 2

• Identify the changes made by the PPACA related to –

·the treatment of costs for over-the-counter drugs and medical expense FSA contributions,

·the tax penalty for nonqualified Archer MSA and HSA distributions,

·medical expense deductions,

·the additional taxation on the earnings of high-income taxpayers,

·the additional tax on high-income taxpayers’ net investment income, and

·the additional tax on estate’s and non-grantor trust’s undistributed net investment income; and

• Calculate the amount of the premium assistance tax credit available to taxpayers whose household income is less than 400% of the federal poverty line.

Chapter 3

• Identify the –

·W-2 reporting requirements imposed on employers providing employer-sponsored health coverage, and

·transition relief provided applicable to W-2 reporting;

• Define ‘full-time employee” and ‘full-time equivalent employee” for purposes of employer tax credits and penalties under the PPACA;
• Recognize the –

·rules that apply to a small employer’s eligibility for a health insurance premium credit, and

·nature of a ‘qualifying arrangement” under which an employer pays premiums for employee health insurance coverage;

• Identify the types of coverage that meet the PPACA definition of health insurance coverage for purposes of the small employer health insurance premium credit;
• Apply the various limitations that may reduce the amount of health insurance premium credit available to an otherwise eligible small employer;
• Calculate the potential penalties applicable to large employers under the PPACA; and
• Identify the –

·transition relief available to applicable large employers, and

·annual return and notification requirements imposed by the PPACA on applicable large employers.