Healthcare Reform: The Affordable Care Act Tax Provisions

Course Description:

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.

Learning Objectives:

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

·         Describe the principal healthcare provisions of the PPACA.

·         Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans

·         Explain the shared responsibility requirements for employers regarding employee health coverage and the tax penalties imposed for the failure to meet them.

·         Describe the tax credits and tax penalties designed to help ensure that individuals meet the requirement to maintain minimum essential coverage.