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Health Care Reform: Taxation and Accounting Issues

New regulations are in effect and more updates are on the horizon, are you prepared?

The Affordable Care Act was enacted in 2010 and in 2012 the Supreme Court upheld the law. The law is comprised of a complex set of provisions with a staggered implementation schedule that began in 2010 and will be fully implemented in 2018. To add to the confusion, the three agencies tasked with providing regulations - the IRS, the Department of Labor, and the Department of Health and Human Services - have been issuing guidance and regulations at a rapid pace but have still struggled to do so in a timely manner. As a result, many employers are confused about the rules and the potential penalties, and despite the fact that the most significant penalties will be in force in 2015, many employers are not certain about how to make sure they are complying. The stakes couldn't be higher; the penalties are severe. Employers, and those advising them, will be given the tools they need to develop a compliance strategy, whether they are ahead of the curve or are just beginning to address compliance with the Affordable Care Act.


Runtime: 105 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of the Affordable Care Act

  • History of the Law
  • Structure of the Law

The Employer Mandate

  • How to Determine Whether Your Company Is Subject to the Law
  • Which Employees Must Be Covered?
  • How Much Coverage Must Be Offered?
  • How to Calculate the Penalties

The Individual Mandate

  • How to Determine Whether the Mandate Applies to You or Your Client
  • How to Calculate the Penalties

Reporting Requirements

  • Which Forms Are Required?
  • What Information Is Required?

Other Important Provisions

  • How to Avoid the "Cadillac" Tax on High Value Health Care Coverage
  • How to Avoid Penalties for Violating New Nondiscrimination Rules
  • Other Reforms and Excepted Benefits

Accounting Issues and Considerations

  • Annual Fee on Pharmaceutical Manufacturers
  • Excise Tax on Medical Device Manufacturers
  • Retiree Drug Subsidy
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on September 30, 2015.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kara Backus

Kara Backus

Bullard Law

  • Associate with Bullard Law
  • Practices exclusively in the areas of employee benefits and executive compensation, including qualified retirement plans, health and welfare benefit plans under ERISA, and COBRA and HIPAA compliance issues
  • Writer and frequent speaker on health care reform and the Affordable Care Act
  • Admitted to practice in Oregon and California
  • B.A. degree, Amherst College; J.D. degree, University of Southern California
  • Can be contacted at 503-248-1134 or [email protected]
Craig A. Day

Craig A. Day

Lane Powell PC

  • Counsel to the firm of Lane Powell PC
  • Practice emphasizes all aspects of employee benefits, including retirement plans, executive compensation, and health and welfare plans
  • Conducts regular seminars and workshops on numerous health care reform, the Health Insurance Portability and Accountability Act (HIPAA), wellness programs, and related tax issues
  • Wrote several publications related to the areas of health care reform, HIPAA, same-sex marriage, wellness programs, executive compensation and other tax issues
  • Admitted to practice in the state of Washington
  • J.D. degree, with honors, and B.A. degree, University of Washington
  • Can be contacted at 206-654-7819 or [email protected]
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 396467
Published 2015
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