CPE038DS - Selected Tax & Other Provisions of the 2010 Health Care Act

This text is divided as follows:

Introduction 1
Structural Provisions 2
Existing Insurance 2
Grandfathered Plans 2
Medicaid 2
Medicare 3
American Health Benefit Exchanges 3
Qualified Health Plan 3
Essential Health Benefits 3
Catastrophic-Only Plan 4
Insurance Cooperatives 4
State Flexibility 4
Changes to Public Programs 4
Medicare 4
Medicare Advantage (Part C) 4
Medicare Prescription Drug Plan (Part D) 5
Linking Payment to Quality Outcomes in Medicare 5
Development of New Patient Care Models 5
Medicaid Expansion 5
Children’s Health Insurance Program (CHIP)6
Simplifying Enrollment 6
Dual Eligible Coverage and Payment Coordination 6
Individual Provisions 6
Individual Mandate & Penalties - §5000A 6
Penalty Exemptions 8
Grandfathered Plans Exception 9
Refundable Premium Assistance Tax Credit - §36B 9
Mechanics 9
Failure to Pay Remaining Premium 10
Eligibility & Federal Poverty Level (FPL) 10
Initial Income Base 10
Income Defined 11
Sliding Scale Credit 11
Adjustments 12
Exclusions 13
Adult Dependents - §§162(l)(1) & 105(b) 13
Itemized Deduction for Medical Expenses - §213(a) 13
Medicare Prescription Drug “Donut Hole” Rebate 13
Hospital Insurance (HI) Tax 14
Increased Percentage - §164(f) 14
Expanded to Investment Income - §1411 14
HSAs & Archer MSAs - §220 15
Drugs & Medications 15
Increased Withdrawal Penalty 15
Health Professionals Loan Repayment Tax Relief - §108(f)(4) 15
Disclosure of Tax Return Information - §6103 16
Business Provisions 20
Employer Mandate 20
50 or More Employees: Penalty for Inadequate Coverage - §4980H 20
200+ Employees – Automatic Enrollment & Notice 22
Employer Reporting of Coverage - §6056 23
Insurer Reporting Requirements - §6055 23
Summary of Benefits 24
Small Business Health Insurance Expense Tax Credit - §45R 25
Tax on High-Cost Employer Plans - §4980I 25
Fees on Insured & Self-Insured Health Plans - §4375 26
Inclusion of Health Coverage on W-2 - §6051 27
Cafeteria Plans - §125 27
Eligible Benefit - §125(f) 27
FSAs -§125(i) thru (k) 27
Simple Cafeteria Plans for Small Businesses - §125(j) thru (l) 27
No Deduction for Medicare Part D Expenses - §139A 28
Excise Tax on Tanning Services - §5000B 28
Annual Fee on Health Insurance Providers 28
Remuneration Paid by Health Insurance Providers - §163(m)(6) 29
Excise Tax on Medical Devices - §4191 29
Pharmaceutical Manufacturer & Importer Annual Fee 29
Therapeutic Discovery Project Credit - §48D 30
Free Choice Vouchers - §§139A, 162(a), & 6056, 30
Miscellaneous Provisions 31
Adoption Tax Credit & Assistance - §§23 & 137 31
Form 1099 for Payments to Corporations - §6041(h) 31
Clarification of the Economic Substance Doctrine - §7701(o) 31
Corporate Estimated Taxes. 32
Time Table of Selected Provisions 32
2010 32
2011 34
2012 35
2013 35
2014 36
2017 37
2018 37

By completing this course, a student will be able to summarize the structural provisions of the Patient Protection and Affordable Care Act (PPAC) as they relate to essential health benefits and levels of coverage and explain how the responsibility requirement to maintain minimum essential coverage under PPAC impacts individuals and who would be exempt from these requirements.

CTEC
NASBA
IRS - Enrolled Agents