The Patient Protection and Affordable Care and the Health Care and Education Reconciliation Acts of 2010 represent the most sweeping and controversial public health care program since the creation of Medicare. Overhauling a healthcare industry that accounts for over one sixth of the national economy while adding coverage for 32 million Americans, these Acts make extensive use of the Internal Revenue Code to reform health insurance. In fact, they contain more than $400 billion in revenue raisers and new taxes. This course overviews these major tax law changes and their affect on individuals, businesses, and healthcare providers.

Learning Assignment & Objectives

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

• Structural provisions of PPAC
• Individual mandates for health coverage and penalties
• Premium assistance credits and subsidies
• Business provisions of PPAC
• Taxes, fees and credits related to PPAC
• Timetable for the enactment of PPAC

Learning Objectives

After reading the materials, participants will be able to:

1. Summarize the structural provisions of the Patient Protection and Affordable Care Act (PPAC) as they relate to essential health benefits and levels of coverage and explain how the responsibility requirement to maintain minimum essential coverage under PPAC impacts individuals and who would be exempt from these requirements;
2. Explain how the provisions of PPAC affect individuals by:
   a. Distinguishing between the types of premium assistance subsidies and credits available to individuals; and
   b. Outlining the 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.
3. Explain how the provisions of PPAC affect businesses by:
   a. Describing the requirements informing employer mandates and the resulting penalties associated with failure to provide adequate coverage;
   b. Identifying the various fees and taxes imposed under PPAC and the credits and subsidies available to help small businesses pay for health insurance; and
   c. Prioritizing the application of the major provisions of PPAC for affected taxpayers by summarizing the implementation timetable.

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants : Any CPA looking to maintain or enhance their professional competence
Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
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