Affordable Care Act - Employer Mandate - 2023 (Text Based)

The Patient Protection and Affordable Care Act (PPACA) has brought about the most significant change in healthcare since the passage of the 1965 legislation that authorized Medicare. It imposes healthcare-related requirements on health plans, health insurers and employers.

Eligible small employers may receive tax credits for providing health insurance coverage to their employees, and large employers may find themselves subject to tax penalties for failing to provide such employee coverage. This course will review the principal coverage provisions of the law and will examine its tax impact on employers.

Learning Objectives:

1. List the principal coverage provisions of the PPACA;

2. Recognize the shared responsibility requirements for applicable employers with respect to employee health coverage;

3. Compute the potential tax penalties that may be imposed under the PPACA for an employer's failure to meet the applicable shared responsibility requirements; and

4. Calculate the tax credits for which a small employer may be eligible for providing employee health insurance coverage.

5. Identify the rules applicable to –

1. grandfathered health plans,

2. the use of pre-existing condition exclusions, and

3. annual and lifetime benefit limits;

6. List the conditions that would permit an insurer to rescind health insurance coverage; and

7. Recognize the requirements imposed by healthcare reform legislation with respect to –

1. patient protection provisions, and

8. dependent coverage to young adults.

9. Identify the types of coverage that meet the PPACA definition of health insurance coverage for purposes of the small employer health insurance premium credit;

10. Apply the various limitations that may reduce the amount of health insurance premium credit available to an otherwise eligible small employer.

Instructional Method: Self-Study

Review Date: 3/15/2023

Required Components: Written Materials

CPE Final Exam Required Passage Grade: 70%

Please Note: This course must be completed within 1 year of the date of receipt of this course for CPE Credit.

Field of Study: Taxes

Level of Knowledge: Beginner

Prerequisites: None

Advanced Knowledge: None

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FurtherEd 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.