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:2/8/2016)... ... February 08, 2016 , ... Delta Dental of California ... combat pancreatic cancer. , Gary D. Radine, who recently retired as president and CEO ... Cancer Society’s 2015 CEO of the Year , helped lead the effort to ...
(Date:2/8/2016)... ... , ... FileHold's document management software has been implemented by ... environment for FileHold software that is pay per user subscription-based and also does ... FileHold web services API. DocuSyst also advises clients on fully functioning back up ...
(Date:2/8/2016)... ... February 08, 2016 , ... TopConsumerReviews.com recently awarded their highest ... products. , Moles are derived from a cluster of melanin when exposed to sunlight. ... places and create a lifetime of embarrassment. Historically, mole removal has involved ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... four states in the U.S. require dental technicians to be certified or obtain ... dental industry, NADL created the “What’s In Your Mouth?” campaign to inform dentists ...
(Date:2/7/2016)... ... 2016 , ... Dr. Todd Hobgood , certificated in ... surgical expertise. Technically known as deoxycholic acid or previously as ATX-101, Kybella® ... for reduction of fat below the chin (aka the “double chin”). Medication side ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... DIEGO , Feb. 8, 2016 /PRNewswire/--  Cell ... announced that advanced tissue-engineering services are now available ... a groundbreaking new three-dimensional (3D) bioprinting approach called ... 3D Bio Printer , a state-of-the-art robotic system ... has created a powerful pay-for-service bio-printing model that ...
(Date:2/8/2016)... 8, 2016 Velano Vascular, a medical technology ... patients and their practitioners, announced today that the company ... will use the proceeds from this financing, an extension ... January 2015, to support the development and commercialization of ... populations. Philadelphia , and ...
(Date:2/8/2016)... 2016  Unilife Corporation ("Unilife" or "Company") (NASDAQ: UNIS ... delivery systems, today announced that it will release its financial ... 2015 after market close on February 9, 2016.  At this ... discuss these financial results.    About Unilife Corporation ... About Unilife Corporation UNIS ...
Breaking Medicine Technology: