Self-Study
1
Update
Taxes
None

Course Description

By changing many of the rules traditionally applicable to health insurance and imposing healthcare-related requirements on virtually every individual, the Patient Protection and Affordable Care Act (PPACA) is likely to affect virtually every person in the United States in some way. 

The Patient Protection and Affordable Care Act (PPACA) imposes various tax increases in order to generate revenue and uses a carrot and stick approach to ensure compliance with its provisions by offering tax credits for compliance and, until 2019, by imposing tax penalties for non-compliance. This course will review the principal provisions of the law affecting individuals and will consider the:

•Coverage-related provisions of the PPACA addressing - 

•Plan grandfathering pursuant to which health coverage in force at the time of the law's passage may be continued,

•The prohibition of pre-existing condition exclusions,

•The proscription of lifetime and annual benefit limits,

•The limitation of health coverage rescissions,

•The requirement for certain patient protections,

•The general requirement for universal health care coverage, and

•The requirement that plans covering children extend child coverage until age 26;

•Various personal income tax changes affecting taxpayers; and

•Tax credits authorized under the law to assist taxpayers by helping them purchase and maintain health insurance coverage.




Instructor

Paul Winn

Paul Winn CLU ChFC is a writer with more than 30 years experience in the life insurance and securities industry as an agent/registered representative, an agency head, a marketing vice president for a life insurance company and the president of a corporate registered investment adviser. He was a long serving member of the advisory board to the New York State insurance department. He is a published book author and creator of more than 200 taxation, insurance and securities training courses.



Course Specifics

Taxes
Jul 10, 2020
None
SS8202648
36
None


Compliance Information

103220
IRS Provider #: 0MYXB
IRS Course ID: 0MYXB-U-01490-20-S
IRS Federal Tax Update Credits: 1
CTEC Provider #: 2071
CTEC Course ID: 2071-CE-1386
CTEC Federal Tax Update Credits: 1
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this 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

•Recognize the requirements imposed by healthcare reform legislation with respect to -

•Patient protection provisions, 

•The individual's requirement to maintain minimum essential coverage, and

•Dependent coverage for 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.




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Online Access

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online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

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