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Health Care Reform Act: Critical Tax and Insurance Ramifications

Author/Moderator: Janemarie Mulvey, Ph. D.
Publisher: AICPA
Availability: Varies by Format (See Below)
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The Health Care Reform Act continues to be phased in this year and in future years. This CPE course will help you better understand the impact of the Act so you can describe to your clients how health care and paying for coverage will change in the future. In addition, you’ll discover how to use this information for tax planning opportunities. This topic is constantly changing so make sure you’re up-to-date on the latest information.

Topics Discussed:

  • Individual Shared-Responsibility Payments
  • Premium Tax Credits for Individuals
  • The ACA Employer Shared-Responsibility Formula
  • The Patient Protection and Affordable Care Act: An Overview
  • ACA Requirements for IRS Information Reports and other Employee Notifications
  • Small Business Health Insurance Tax Credit
  • The Small Business Health Options Program (SHOP) Exchange
  • Other ACA Tax Changes Impacting Individuals

Learning Objectives:
When you complete this course, you will be able to:

  • Identify what insurance qualifies as minimum essential coverage
  • Identify exemptions from individual shared responsibility payments when individuals do not have minimum essential coverage
  • Estimate the individual shared responsibility penalty under different assumptions about income and family size
  • Estimate premium tax credit under different income levels
  • Estimate firm size based on FTE to determine which firms are potentially liable for an employer shared responsibility payment
  • Recall the correct definition of dependent for dependent coverage under the employer-shared responsibility payments
  • Identify what factors trigger an employer shared responsibility payment
  • Identify which IRS reporting forms and required information employers and insurers must submit
  • Identify what elements are to be reported on IRS ACA reporting
  • Identify which firms are eligible for small business tax credit given average wages and firm size
  • Identify which workers are included in the FTE calculation and which one’s coverage is eligible for small business tax credit
  • Determine eligibility for participation in SHOP exchange
  • Determine if the tax filer is subject to net investment income tax and estimate amount of tax

Intended Audience
CPAs, enrolled agents, and financial advisers

Prerequisite: None

Advanced Preparation: None

Enhanced On-Demand Format
This enhanced on-demand format features audio and voice narration to keep you actively engaged with the course content. Additionally, updated course navigation allows you to easily move throughout the material. For your convenience, a PDF version of the text manual is included for download to use as a reference guide.

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NASBA Field of Study: Taxes
Level: Basic
Recommended CPE Credit: Text - 4; On-Demand - 7
Health Care Reform Act: Critical Tax and Insurance Ramifications
Text , 2015
Product# 745815
Availability: In Stock
AICPA Member:$99.00
Your Price:$129.00
Health Care Reform Act: Critical Tax and Insurance Ramifications
CPE On-Demand , 2015
Product# 155814
Availability: Online Access 1 Year
For registered users only
AICPA Member:$109.00
Your Price:$139.00
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