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Tax favored health care plans are one of the major benefits offered by businesses to their employees. Now that the Affordable Care Act (ACA) has been enacted, the requirements to offer employee health insurance as well as maintaining group health insurance plans have been significantly modified. Any employer in noncompliance with the ACA could be subject to a $36,500 per year, per employee excise tax. This course provides a comprehensive discussion of the different tax favored health care plans
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11/18/2015
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When:
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11/18/2015
9:30 AM - 5:00 PM
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Where:
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Webcast/Webinar
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Presenter:
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J Patrick Garverick, CPA, MT, CFP
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Contact:
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April Deneault
801-834-6634
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« Go to Upcoming Event List
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Tax favored health care plans are one of the major benefits offered by businesses to their employees. Now that the Affordable Care Act (ACA) has been enacted, the requirements to offer employee health insurance as well as maintaining group health insurance plans have been significantly modified. Any employer in noncompliance with the ACA could be subject to a $36,500 per year, per employee excise tax. This course provides a comprehensive discussion of the different tax favored health care plans available and how they are affected by the ACA.
Objectives:
Recognize the available tax favored health care plans (i.e. Health Savings Account (HSA), Medical Savings Accounts (MSA), Health Reimbursement Arrangements (HRA), 125 Cafeteria Plan Flexible Spending Arrangements (Health FSA) and 105 Medical Reimbursement Plans.
Identify how the Affordable Care Act (ACA) affects the different tax favored health care plans, new group health insurance requirements and which employers are required to offer health insurance and comply with the ACA.
Major Subjects:
In-depth discussion of the tax favored HSA, MSA, HRA, Health FSA and MRP and what businesses can utilize them.
Learn what employees must be offered health insurance by large employers (i.e. 50 or more employees) to avoid the shared responsibility excise tax penalty under IRC 4980H
Discuss other provisions enacted by the ACA including:
Small business health insurance credit
Simple cafeteria plan
Limitations on Health FSAs
Find out who is eligible for the self-employed health insurance deductions (including the controversial more than 2% S corporation shareholder issues)
Discuss the medical expenses deductible on Schedule A and reimbursable from the various tax favored health care plans
Overview of Medicare Parts A, B, C and D and the importance of Medigap insurance policies
Designed For:
CPAs and professionals in public or private practice in need of an in-depth training of the available tax favored health care plans and how the ACA affects those offering them.
Prerequisite:
General knowledge in individual/business income taxes, fringe benefits and tax favored health care plans.
Advanced Prep: None
Speaker: J Patrick Garverick, CPA, MT, CFP
Vendor: CalCPA
Field of Study: Tax
Level: Intermediate
CPE Credit: 8 Hours
Acronym: TFHP
Registration Fees:
Members: $275
Nonmembers: $375
Meet the Speaker:
J. Patrick "Pat" Garverick began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began his own tax and financial planning business as well as writing, reviewing and teaching tax and financial planning CPE training courses around the country. As an award winning discussion leader, his knowledge, expertise and high energy have made him one of the profession’s highest rated speakers resulting in numerous perfect scores for both knowledge and presentation skills."
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