CPE Self-Study

Affordable Care Act: Tax and Insurance Ramifications

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    Affordable Care Act: Tax and Insurance Ramifications In Stock Product #: 745816
    AICPA Member: $99.00
    Non-Member: $129.00
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    Affordable Care Act: Tax and Insurance Ramifications Online Access Product #: 155815
    AICPA Member: $79.00
    Non-Member: $99.00
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    Product #: GT-CL4HCRA

The Affordable Care Act will be fully operational this year, and many of the provisions are implemented through the tax code.

This CPE course will help you better understand the impact of the law including how individual and employer-shared responsibilities are assessed, the availability of premium tax credits for individuals and small businesses and new IRS reporting requirements for firms with 50 or more full-time equivalents. In addition, you'll discover how to use this information for tax planning opportunities. This topic is constantly changing so make sure you're up-to-date on this latest information.

Learning Objectives

This course will prepare you to:

  • Identify what insurance qualifies as minimum essential coverage
  • Identify exemptions from individual shared responsibility payments when individuals do not have minimum essential coverage
  • Estimate the individual shared responsibility penalty in 2016 under different assumptions about income and family size
  • Identify factors affecting eligibility for ACA premium tax credits
  • Estimate premium tax credit under different income levels
  • Calculate amount of premium tax credits that must be reconciled to income tax returns
  • Estimate firm size based on FTE to determine which firms are potentially liable for an employer shared responsibility payment
  • Recall the correct definition of dependent for dependent coverage under the employer-shared responsibility payments
  • Identify what factors trigger an employer shared responsibility payment
  • Calculate potential penalties for employers who currently provide health insurance coverage and for those who do not provide health insurance coverage
  • Identify how potential penalties are applied in a controlled group
  • Identify the ACA provisions that the IRS is responsible for in terms of implementation, administration, and enforcement.
  • Identify which IRS reporting forms and required information employers and insurers must submit
  • Identify what elements are to be reported on IRS ACA reporting
  • Recall due dates for IRS reporting requirements
  • Identify under which circumstances a firm can use the general versus alternative method of reporting
  • Identify which firms are eligible for small business tax credit given average wages and firm size
  • Identify which workers are included in the FTE calculation and which one’s coverage is eligible for small business tax credit
  • Estimate amount of tax credit eligible for given firm characteristics and premiums
  • Identify effective dates of other ACA tax provisions
  • Determine if tax filer is subject to additional Medicare tax and estimate amount of tax
  • Identify ACA changes to tax-advantaged health accounts

Topics Discussed

  • Individual Shared Responsibility Payment
  • Premium Tax Credit
  • Employer Shared Responsibility Payment
  • IRS Employer and Insurer Reporting Requirements
  • Small Business Tax Credit
  • The Small Business Health Options Program (SHOP) Exchange

Who Will Benefit?

  • CPAs, enrolled Agents, financial advisors, insurance brokers

Enhanced On-Demand Format

This Enhanced On-Demand Format features audio and voice narration to keep you actively engaged with the course content. Additionally, updated course navigation allows you to easily move throughout the material. For your convenience, a PDF version of the text manual is included for download to use as a reference guide.

System Requirements

About the Authors

Janemarie Mulvey, Ph. D.

About the Publisher


About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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