How will ACA affect your clients?

[mrtax]

Just curious. Are most of your clients covered by qualified plans or do you anticipate having to go through all these calculations to determine exemptions, penalties etc? Is anyone increasing fees this year due to this added burden?

[zeros]

Premium Tax Credit & Advance Payments

I guess I won't have much problem with the 95% that have full coverage. Little concerned about how to actually handle the tax credits and advance payments. I have enlisted another preparer to take the ones that I can't handle so thats my back-up plan. I know, I know, the cowardly way out........

[JohnH]

I expect those few clients who are affected by ACA in any significant way to go the same way as EITC clients - sending them to HRB.

[TXEA]

I expect very little impact. Most of my clients maintain coverage year around. There may be a straggler or two that might require some work....

[Burke]

I have only one that I know of that qualified for premium subsidies via the Marketplace. I don't expect any others to be affected by non-coverage unless they are recently emancipated kids.

[Corduroy Frog]

2014 won't tell the story

Like previous posts, an overwhelming majority of mine already have insurance, at least for 2014.

I believe the landscape will change in 2015 when the employer mandate goes into effect. I believe millions could
lose their insurance as employers bail out of coverage. Some will be cut to 30 hours per week, others will have
employers that pay the penalty as a cheaper alternative to coverage.

Still others will find cheaper insurance on the exchanges than to contribute to their employers' plan.

[ATSMAN]

Don't expect significant change in my operation

Majority of my tax clients have employer provided health insurance. I do have a bunch of self employed taxpayers and young taxpayers who are not on their parent's insurance that "bounce around" with coverage.

In our state we just concluded the open enrollment and I had advised all my clients to look into the state exchange if they were about to lose insurance coverage for one reason or other. I personally know that 3 of my clients obtained insurance through the exchange for 2015.

I am not going to increase my fees on account of ACA to my clients who had the MCC for the whole year. For those where I have to calculate their penalty I may charge an additional fee depending on how much time I have to spend on that portion of their return.

I consider the cost of my training to get up to speed with ACA as part of my overhead just like the cost of the taxbooks, paper and toner!