📄️ 14.0 Health Concept and Tax Considerations
Learning Objectives
📄️ 14.1 Patient Protection and Affordable Care Act (PPACA)
The Patient Protection and Affordable Care Act (PPACA), now commonly known as the Affordable Care Act (ACA), was signed into law on March 23, 2010.
📄️ 14.2 Consumer-Driven Health Plans (CDHPs)
Consumer-driven health care (CDHC) is designed to give individuals greater control over how their health care dollars are spent. It uses a structured three-tiered approach to fund medical services and treatment, encouraging informed decision-making and cost-conscious behavior.
📄️ 14.3 TRICARE (The Uniformed Services Health Program)
TRICARE is a health care program designed primarily to provide coverage for active-duty and retired members of the U.S. military, as well as their eligible dependents.
📄️ 14.4 Federal Tax Considerations for Personally-Owned Health Insurance Policies
Disability Income Insurance
📄️ 14.5 Federal Tax Considerations for Business and Group Health Insurance Policies
Disability Income Insurance
📄️ 14.6 Medical Expense Coverage for Sole Proprietors and Partners
Sole proprietors and partnerships may deduct up to 100% of their health insurance premiums without being subject to the adjusted gross income (AGI) threshold. This deduction can also include premiums for a spouse, dependents, and children under age 27. Benefits received are generally not taxable.
📄️ 14.7 Business Disability Insurance
Business Overhead Expense
📄️ Recap of Chapter Fourteen
1. The Patient Protection and Affordable Care Act (“PPACA”) established national guidelines for the provision of health insurance in the United States. Under the PPACA, insurers are prohibited from denying coverage to individuals with pre-existing conditions that would otherwise impact their insurability. The PPACA is now commonly referred to as the Affordable Care Act (ACA). 14.1