Affordable Care Act (ACA): Tax Favored Health Care Plans After the ACA

Tax favored health care plans are one of the major fringe benefits offered by businesses to their employees. After the enactment of President Obama's signature health care law, 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 ACA could be subject to a $36,500 per year, per employee excise tax. Discuss the different tax favored health care plans available and how they are affected by the ACA.

Basic Course Information

*Walk away with a complete understanding of the available tax favored health care plans (i.e. Health Savings Accounts (HAS), Medical Savings Accounts (MSA), Health Reimbursement Arrangements (HRA), Cafeteria Plan Flexible Spending Arrangements and Medical Reimbursement Plans

*Learn how the Affordable Care Act affects the different tax favored health care plans, new group health insurance requirements and which employers are required to offer health insurance and comply with the ACA

*Overview of Tax Favored HSA, MSA, HRA, Health FSA, and MRP

*Avoiding the Shared Responsibility Excise Tax Penalty under IRC 4980H

*Walk through the application of the ACA's conformity of the Internal Revenue Code and ERISA to group health plans including the prohibition of discrimination and reimbursing health insurance premiums pre-tax *Provisions Enacted by the ACA including: Small Business Health Insurance Credit Simple Cafeteria Plan Limitations on Health FSAs

*Health Insurance Deduction Eligibility

*Overview of Medicare Part A, B, C & D and Importance of Medigap Insurance Policies