Self-Study Course Details
The landmark legislation known as the Patient Protection and Affordable Care Act (PPACA), signed into law in 2010, affects a wide range of institutions in the United States in some way. It imposes healthcare-related requirements on health plans, health insurers and employers.
In addition to imposing various tax increases to increase revenue, the PPACA uses a carrot and stick approach to ensure compliance with its provisions, offering tax credits for compliance and imposing tax penalties for non-compliance. This course will review the principal provisions of the law and will examine its tax impact on individuals and businesses.
In so doing, it 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 requirement that plans covering children extend child coverage until age 26;
- Tax credits available to small businesses to encourage them to sponsor employee health plans;
- Shared responsibility for certain large employers to provide employee health coverage and the tax penalties imposed for noncompliance;
- Various personal income tax changes affecting taxpayers; and
- Tax credits authorized to help individuals maintain minimum essential coverage.
- Identify the principal healthcare provisions of the PPACA
- Identify the tax credits for which small businesses may be eligible when sponsoring employee health plans
- Recognize the shared responsibility requirements for applicable large employers regarding employee health coverage
- Compute the tax penalties imposed under the PPACA for a large employer’s failure to meet the applicable shared responsibility requirements
- Calculate the tax credits and tax penalties designed to help ensure that individuals are able to maintain minimum essential coverage
Paul J. Winn CLU ChFc is a financial writer, editor and trainer in the insurance industry. Past positions have included product developer, compensation officer, marketing VP, VP of strategic planning as well as being President of Maryland Financial Corporation. Mr. Winn has served on multiple Insurance Industry Boards including Baltimore Chapter of CLU and ChFC and Member/Secretary, Advisory Board to New York State Insurance Department. He is well known as a writer and editor of major mutual life insurance company’s agent-training ”university” and has created more than 100 training/continuing education courses. He is also a published book author.
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Encoursa LLC is an IRS-approved continuing education provider. Provider #: KKRBE
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