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Affordable Care Act: Tax Favored Health Care Plans After ACA 4172966C
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Tax favored health care plans are one of the major fringe benefits offered by businesses to their employees. After enactment of the Affordable Care Act (ACA), the requirements to offer employee health insurance, as well as maintaining group health insurance plans, were significantly modified. Any employer in non-compliance with the market reforms of the ACA could be subject to a $36,500 per year, per employee excise tax.

 Export to Your Calendar 11/22/2017
When: 9:30 AM to 5:00 PM
Where: Webinar/Webcast
United States
Presenter: J Patrick Garverick, CPA, MT, CFP
Contact: April Deneault
801-466-10603


Online registration is available until: 11/22/2017
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Curriculums:   Business and Corporate Taxation,Individual Tax Planning and Return Preparation,Partnerships and LLCs,Financial Leadership Forum,Business and Industry

NASBA Credit Category:  Taxes

CPE Hours:  8

Description

Tax favored health care plans are one of the major fringe benefits offered by businesses to their employees. After enactment of the Affordable Care Act (ACA), the requirements to offer employee health insurance, as well as maintaining group health insurance plans, were significantly modified. Any employer in non-compliance with the market reforms of the ACA could be subject to a $36,500 per year, per employee excise tax. The cornerstone of this course is the comprehensive discussion of the different tax favored health care plans available and how they are affected by the ACA.

Note: At the request of the author, course materials for this program cannot be printed. Please be sure to save the materials to your desktop prior to the event. Adobe Reader Version XI is a prerequisite for downloading materials.

Materials are provided as an ebook for this course.

A printed course book can be purchased for $50 (including shipping and handling). Choose the option to purchase the book when registering for the course. Book purchase must be made five or more business days prior to the presentation date to ensure it arrives in time. The book will be shipped directly to your preferred address. The eBook will still be accessible via “My Events” on calcpa.org.



Major Subjects

  • Emphasize any newly enacted legislation affecting tax favored health care plans
  • How the market reform provisions apply to group health plans and the potential excise tax of $36,500/year/employee for failure to comply.
  • The ACA's conformity of the Internal Revenue Code and ERISA to group health plans, including the prohibition of discrimination and reimbursing individual health insurance premiums.
  • Eligibility for the self-employed health insurance deduction (including the controversial more than 2 percent S corp shareholder issues).
  • Potential Sec. 4980H excise tax applicable to large employers.
  • Limitations on health FSAs.
  • Small-business health insurance credit.
  • Simple cafeteria plan.

Objectives

  • Explain the tax and non-tax issues of the various tax favored health care plans (i.e. §105 Medical Reimbursement Plans (MRPs), Health Reimbursement Arrangements (HRAs), §125 Health Flexible Spending Arrangements (Health FSA) and Health Savings Accounts (HSAs) to their clients, colleagues and employees
  • Determine how to implement the market reform provisions to group health plans to avoid any federal excise taxes.
  • Identify large employers that are required to offer affordable group health insurance coverage to their full-time employees (and dependents) and the assessable penalty for those that don’t.

Level:  Intermediate

Designed For

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.

Advanced Prep:

None.

Prerequisite

Basic understanding of tax favored health care plans and the ACA.

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