On June 28, 2012, the U.S. Supreme Court upheld the constitutionality of the 2010 Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act, commonly referred to as Health Care Reform. This CCH Tax Briefing describes the tax measures preserved by the Court’s decision along with related guidance from the Treasury, IRS, Department of Labor, and Department of Health and Human Services.
Now that the highly anticipated decision has been reached by the Court, all taxpayers from small to large employers to individuals must start to prepare for the implementation of the provisions that become effective in 2013, 2014, and beyond.
To assist you, Schenck will be covering key elements of the health care reform legislation in a monthly article series starting in our August e-News. Each article will include analysis of the topic as well as what taxpayers should be thinking about to prepare their business and themselves. Watch our upcoming e-News for updates on these and other issues:
- Medicare tax on investment income
- Form W-2 reporting of the cost of employer-sponsored health coverage
- Additional Medicare tax on wages and self-employment income
- Changes to flexible spending accounts and a new fee imposed on self-insured health plans
- Individual Mandate: penalty on individuals for failing to carry health insurance
- Penalty for certain employers for failing to offer any or affordable health insurance coverage to employees
View our health care reform webinar
While many of the provisions were effective pre 2012, it is now time to focus on those that will impact you in 2012, 2013 and 2014. View our webinar recording on the changes Health Care Reform will bring here.
If you have questions or concerns, please contact your account director or a Schenck representative at 800-236-2246.
CCH Tax Briefing