Navigation Links
CCH Issues Briefing on Tax Provisions of Health Care Reform Legislation
Date:3/22/2010

RIVERWOODS, Ill., March 22 /PRNewswire/ -- CCH has issued a Special Tax Briefing to explain the final tax provisions of health care reform legislation. With the passage of the Patient Protection and Affordable Care Act and a companion Health Care and Education Tax Credits Reconciliation Act in the House, the stage is set for Senate concurrence through a simple majority vote and signing by the president to wind up the long legislative path to health care reform. To read the Briefing, click here.

"It is certain that the IRS will play a large role in broadening insurance coverage through tax incentives and penalties on the one hand, and on the other hand collecting new taxes to pay part of the costs," said CCH Principal Federal Tax Analyst Mark Luscombe, JD, LLM, CPA.

The bill contains an excise tax on "Cadillac" insurance plans – those with more generous benefits and higher premiums than typical plans – an excise tax on medical devices, "industry fees" on various health-related industries and a Medicare surtax of .9 percent on wages and 3.8 percent on investment income for individuals with adjusted gross incomes over $200,000 for an individual, $250,000 for couples. Except for seniors, it raises the threshold for the itemized medical deduction from 7.5 percent of adjusted gross income to 10 percent. Beginning in 2013, it will limit contributions to tax-advantaged flexible spending accounts for health expenses.

"The bill aims to broaden coverage, with individual and employer mandates, and those mandates are backed up by using the IRS to assess payments on individuals who choose to remain uninsured and employers who choose not to offer group health plans," Luscombe said.

Other revenue raisers include closing a loophole related to biofuel production, codification of the economic substance doctrine and an adjustment to corporate estimated tax payments in 2014.

CCH Tax Briefings

To read the CCH Special Tax Briefing on health care reform, click here. Timely, current analysis of other tax legislation can be found at CCH Tax Legislation Coverage.

CCH Analysts

CCH analysts are available to discuss the tax, employee benefits and Medicare/Medicaid aspects of health care reform. Please contact: Neil Allen (847-267-2179 or neil.allen@wolterskluwer.com); or Brenda Au (847-267-2046 or brenda.au@wolterskluwer.com).

About CCH, a Wolters Kluwer business

CCH, a Wolters Kluwer business (CCHGroup.com) is a leading provider of tax, accounting and audit information, software and services. CCH is based in Riverwoods, Ill. Wolters Kluwer is a market-leading global information services company. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

SOURCE CCH, a Wolters Kluwer business

Back to top

RELATED LINKS
http://CCHGroup.com

'/>"/>

SOURCE CCH, a Wolters Kluwer business
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. FDA Issues Guidance to Help Streamline Medical Device Clinical Trials
2. Older female cancer survivors have added health issues compared to their counterparts
3. NVHR Issues Challenge to Administration, Congress: Dont Leave 5 Million Americans Afflicted with Chronic Viral Hepatitis Out in the Cold with Budget Freeze
4. Operation Rescues Advisory Board Issues Statement on Mr. Terrys Extremism
5. Greenfaith Ministry Calls on Churches & Doctors, to Address all Cannabis Issues and Regulation
6. School Support Lacking for Emotional, Behavioral Issues, say Parents
7. Cohen Independent Research Group Issues a Buy Rating With a Target Price of $2.48 for VHGI; 8K filed regarding $50,000,000.00 Treasure Gulch Gold Reserves
8. APS Healthcare Issues First Award to South Carolina Providers Using Data to Increase Effectiveness of Mental Health Treatment
9. Natural Products Association Issues Statement on DEAs Steroid Classification Action
10. Half of U.S. Kids With Mental Issues Are Getting Help
11. Natural Products Association Issues Statement on New Supplement Safety Campaign
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/28/2017)... ... March 28, 2017 , ... Public relations pros work ... a variety of business channels. , While many results are clear, much of PR ... program. , When it comes to measurement, firms should always take an all-inclusive ...
(Date:3/28/2017)... ... 2017 , ... Oily skin is a common and unwelcomed occurrence in people of all ages, ... to offer to the discussion of dealing with excess skin oil. “Oily skin is a ... remedies that can help remove the oily shine while keeping the skin fresh and clean,” ...
(Date:3/28/2017)... ... ... and fungi are probably not the first ingredients that come to mind when thinking about ... your diet can actually improve health outcomes. And the good news is they may be ... new peer-reviewed paper led by Maria Marco, Ph.D. , University of California, ...
(Date:3/27/2017)... Ohio (PRWEB) , ... March 27, 2017 , ... New ... OH to replace their missing teeth can now have them placed by Dr. Manju ... the latest i-CAT® Cone Beam technology to increase the accuracy of each dental implant ...
(Date:3/27/2017)... TX (PRWEB) , ... March 27, 2017 , ... A ... Edward Buckingham MD, and his colleague, Sudeep Roy, MD, was recently published in ... Bipolar Electrocautery Efficacy in Rhytidectomy” details Drs. Buckingham and Roy’s study on the use ...
Breaking Medicine News(10 mins):
(Date:3/27/2017)... Summary This report provides all the information ... interests and activities since 2010. Description The Partnering Deals ... the partnering activity of one of the world,s leading life ... upon purchase to ensure inclusion of the most up to ... be delivered in PDF format within 1 working day of ...
(Date:3/27/2017)... VANCOUVER, British Columbia , March 27, 2017 /PRNewswire/ ... of Directors has appointed William "Bill" Dubiel as President ... Dubiel was also elected to the Board of Directors ... serve as the Executive Chairman of LightIntegra. ... become LightIntegra,s next President and Chief Executive Officer. We,ve ...
(Date:3/27/2017)... VANCOUVER, British Columbia, March 27, 2017  Sophiris ... "Company" or "Sophiris"), a clinical late-stage biopharmaceutical company ... with urological diseases, today reported fourth quarter and ... highlights. Key Corporate Highlights: ... for Localized Prostate Cancer. During 2016, the Company ...
Breaking Medicine Technology: