Understanding Health Care Reform

[Brad Imsdahl]

We are introducing a new line of books from the authors of TheTaxBook. The new line is called TheTaxAuthority Series, and contains in-depth coverage on various topics.

Our newest edition is called “Understanding Health Care Reform,” which goes beyond basic tax provisions in the new health care reform legislation. It also explains the non-tax issues, such as information on the new State Health Insurance Exchanges, changes to Medicare, and the new expanded list of individuals who will be eligible for Medicaid.

I have already had clients ask me about qualifying for various programs under the new Health Care Reform act. Even though some of these questions have nothing to do with taxes, we are still going to have clients ask us…similar to the questions we get about Social Security benefits.

Here is the link to our new book and ordering information:

http://www.thetaxbook.com/tta_health_care_reform.asp

[Nashville]

Tax Increases

This whole Bill has to be viewed as a series of substantial tax increases over the next few years (whereas doing virtually NOTHING to deal with the real sources of double-digit increases in the health care industry).

If you look at the bullets on this publication (as well as TTB update sent to us previously), you can see a number of subtle and not-so-subtle revenue enhancement measures:
** Erosion of the section 125 deduction for medical insurance paid by employees.
** Initialization of a Tanning booth Excise Tax.
** Taxation of high-end "Cadillac" plans
** Geometric increases in the criteria to issue 1099s.
** Penalty-type taxes on HSA distributions not used for qualified health.
** Expanded Medicare taxation to include items which are not "Earned" Income.

A surprising number of my customers are already asking questions, Many of them believe that their state is taking the Federal Govt to court to protect the Bill from taking effect in their states. Whereas some states are doing this, there is virtually no chance of these challenges being upheld. Also some of them believe there will be a new Congress at the end of this year and they will rescind the bill. Whereas this is constitutionally possible, the legislative process is so cumbersome that any substantial opposition can block this.

That leaves most of the tax (and non-tax) provisions ready to phase in over the next few years. For those in our industry, you already know how many "non-tax" questions we already get like what Social Security is going to pay us, what stocks and funds are best to invest their money, etc. And they expect us to be knowledgeable enough to conduct conversations about these topics.

[Uncle Sam]

Understanding Health Care Reform

If this is such an important subject - why didn't TTB prepare the book in a CPE format for those of us who wish to learn about it for CPE credit?

[Nashville]

Accreditation

Sam, would "Healthcare" as such be an accredited subject for EA or CPA renewal? If not, there is no point in having a CPE exam with no credit.

Do you know anything about this subject becoming accredited as a curriculum item?

[Bees Knees]

If this is such an important subject - why didn't TTB prepare the book in a CPE format for those of us who wish to learn about it for CPE credit?

There IS a CPE course as well.

http://www.thetaxbook.com/cpe_health_care_reform.asp

[geekgirldany]

I would like to get the CPE credits. Do I need to buy both books?

[Brad Imsdahl]

You do not have to buy both books to get CPE. All of our self-study CPE courses are independent, stand alone products, that contain all of the information you need to study for and pass the test that gives you the CPE credits.

The new book on Understanding Health Care Reform that is published under TheTaxAuthority Series is an alternative for those who do not wish to purchase the CPE course. Likewise, the Health Care Reform Tax Review Self-Study CPE Course that is published under TheTaxReview Series is an alternative for those who want to learn about new tax law and obtain CPE credits at the same time.

However, information from each Series is not identical. The CPE courses are required to be formatted and re-written under a specific set of guidelines that qualify an EA or CPA to receive CPE credits. Thus, for example, certain provisions in the Health Care Reform legislation covered in TheTaxAuthority Series that has little to do with tax law will not be included in the CPE course. Each product is designed for a different purpose.

For more information on each of our CPE courses, click on this link:

http://www.thetaxbook.com/thetaxreview_series.asp