Affordable Care Tax - Individual Rights & Responsibilities
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 individuals comply 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, 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.
After completing this course you will be able to:
- List the principal healthcare provisions of the PPACA affecting individuals;
- Identify those individuals who may be exempt from the individual mandate; and
- Calculate the tax credits designed to help ensure that individuals are able to purchase and maintain health insurance coverage.
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