Affordable Care Tax - Individual Provisions
Field of Study:
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 2020, by imposing tax penalties for non-compliance. This course will review the principal provisions of the law affecting individuals.
After completing this course you will be able to:
- 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.
- Identify the changes made by the PPACA.
- Identify the amount of the premium assistance tax credit available to taxpayers whose household income is less than 400% of the federal poverty line.
General understanding of federal income taxation.
Type of delivery method:
Recommended CPE credits:
Final examination expiration date:
The program participant will have one year from the date of purchase to complete the course and final examination.
Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org