Early Bird Fees (through 9/4)
After 9/4, add $50 to your fee.
CPE: 8 hours
Vendor: Surgent McCoy CPE
Prerequisites: A working knowledge of tax law as it relates to health insurance
Advanced prep: None
Who should attend: Tax practitioners who need to understand the changes and implications of the Affordable Care Act
The Affordable Care Act (ACA) is in the process of being fully implemented. Both otherwise uninsured individuals and employers with 50 or more full-time or full-time equivalent employees must be on top of the complicated ACA rules as they apply in 2015 and beyond.
All employers, whether large employers or not, should be alert to the IRS’s release of regulations under §105(h). These anticipated regulations will apply anti-discrimination rules to all employers regardless of size. Of equal importance is the impact of Notice 2013-54 and how it impacts employer reimbursements of employees for premiums they pay for health insurance (either through a qualified health plan in the Marketplace or outside the Marketplace).
This course will focus on the key issues and planning strategies that tax practitioners need to know in order to advise their clients regarding this far-reaching legislation.
• Understand how the Affordable Care Act affects businesses, employees, and individuals not covered by an employer’s health plan
• Recognize when and how penalties apply to individuals and businesses under the ACA
• Understand what options employers have in offering certain types of fringe benefit plans
• When can an individual claim a subsidy to purchase health insurance on the health exchange?
• When an individual is subject to a penalty for failure to purchase health insurance
• Overview of health insurance changes affecting businesses
• Shared responsibility excise tax penalty for large employers (i.e., 100/50 or more employees)
• Calculating and defining the 100/50-employee count: watch out for related party rules!
• IRS Notice 2013-54 and its impact on employer reimbursement programs
• Options for individuals who do not have health insurance coverage through an employer
• What does health insurance look like in 2015?
• Small business health insurance credit: when should an employer claim it?
• Form W-2 information on health ins. costs required to be disclosed
• Non-discrimination rules: full explanation of the §105(h) regulations when the IRS releases them