Healthcare Reform and the Affordable Care Act

Overview

The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, affects a wide range of institutions in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers and employers.

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 completion of this course, you should be able to:

  • list the principal healthcare provisions of the PPACA
  • identify the tax credits for which small businesses may be eligible when sponsoring employee health plans
  • recognize the shared responsibility requirements for applicable large employers regarding employee health coverage
  • compute the tax penalties imposed under the PPACA for a large employer's failure to meet the applicable shared responsibility requirements
  • calculate the tax credits designed to help ensure that individuals are able to maintain minimum essential coverage

Tax Year: 2021

Designed For

CPAs, EAs, and other tax professionals
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