CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Affordable Care Act: Employer Rights and Responsibilities

Icon_Self-Study
Self-Study
Icon_Level
Update
Credits
CPE Credits
3 Credits: Taxes

Course Description

The Patient Protection and Affordable Care Act (PPACA) has brought about the most significant change in healthcare since the passage of the 1965 legislation that authorized Medicare. It imposes healthcare-related requirements on health plans, health insurers and employers.

Eligible small employers may receive tax credits for providing health insurance coverage to their employees, and large employers may find themselves subject to tax penalties for failing to provide such employee coverage. This course will review the principal coverage provisions of the law and will examine its tax impact on employers.

 

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, and
    • dependent coverage to young adults.

Chapter 2

  • Identify the –
    • W-2 reporting requirements imposed on employers providing employer-sponsored health coverage, and
    • transition relief provided concerning W-2 reporting;
  • Define “full-time employee” and “full-time equivalent employee” for purposes of employer tax credits and penalties under the PPACA;
  • Recognize the –
    • rules that apply to a small employer’s eligibility for a health insurance premium credit, and
    • nature of a “qualifying arrangement” under which an employer pays premiums for employee health insurance coverage;
  • Identify the types of coverage that meet the PPACA definition of health insurance coverage for purposes of the small employer health insurance premium credit;
  • Apply the various limitations that may reduce the amount of health insurance premium credit available to an otherwise eligible small employer;
  • Calculate the potential penalties that may be imposed on large employers under the PPACA; and
  • Identify the –
    • transition relief available to applicable large employers, and
    • annual return and notification requirements imposed by the PPACA on applicable large employers.

Course Specifics

Course ID
8202695
Revision Date
June 10, 2020
Number of Pages
77
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01571-20-S
IRS Federal Tax Update Credits: 3
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1467
CTEC Federal Tax Update Credits: 3

Course Instructor

Paul J. Winn Headshot
Paul J. Winn CLU ChFC

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.

Affordable Care Act: Employer Rights and Responsibilities

Expert Instructors
Format
CPE CREDITS
3 Credits: Taxes

$87.00$107.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Update
Credits
CPE Credits
3 Credits: Taxes

Course Description

The Patient Protection and Affordable Care Act (PPACA) has brought about the most significant change in healthcare since the passage of the 1965 legislation that authorized Medicare. It imposes healthcare-related requirements on health plans, health insurers and employers.

Eligible small employers may receive tax credits for providing health insurance coverage to their employees, and large employers may find themselves subject to tax penalties for failing to provide such employee coverage. This course will review the principal coverage provisions of the law and will examine its tax impact on employers.

 

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, and
    • dependent coverage to young adults.

Chapter 2

  • Identify the –
    • W-2 reporting requirements imposed on employers providing employer-sponsored health coverage, and
    • transition relief provided concerning W-2 reporting;
  • Define “full-time employee” and “full-time equivalent employee” for purposes of employer tax credits and penalties under the PPACA;
  • Recognize the –
    • rules that apply to a small employer’s eligibility for a health insurance premium credit, and
    • nature of a “qualifying arrangement” under which an employer pays premiums for employee health insurance coverage;
  • Identify the types of coverage that meet the PPACA definition of health insurance coverage for purposes of the small employer health insurance premium credit;
  • Apply the various limitations that may reduce the amount of health insurance premium credit available to an otherwise eligible small employer;
  • Calculate the potential penalties that may be imposed on large employers under the PPACA; and
  • Identify the –
    • transition relief available to applicable large employers, and
    • annual return and notification requirements imposed by the PPACA on applicable large employers.

Course Specifics

Course ID
8202695
Revision Date
June 10, 2020
Number of Pages
77
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-U-01571-20-S
IRS Federal Tax Update Credits: 3
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1467
CTEC Federal Tax Update Credits: 3

Course Instructor

Paul J. Winn Headshot
Paul J. Winn CLU ChFC

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.

Affordable Care Act: Employer Rights and Responsibilities

Expert Instructors
Format
CPE CREDITS
3 Credits: Taxes

$87.00$107.00

Clear