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Post Date:  1/23/2017
Last Updated:  1/23/2017

Summary
Cross References
- whitehouse.gov

On his first day as President of the United States, President Trump issued an executive order on the Affordable Care Act instructing federal agencies to begin implementing plans for the full repeal of the law. The Affordable Care Act contains the following tax related provisions:
- The requirement to maintain minimum essential coverage. [IRC §5000A]
- The Premium Tax Credit. [IRC §36B]
- The medical expense deduction AGI limitation increased from 7.5% of AGI to 10% of AGI. [IRC §213]
- The Additional Medicare Tax. [IRC §1401 and §3101]
- The Net Investment Income Tax. [IRC §1411]
- The Shared Responsibility Mandate for Large Employers. [IRC §4980H]
- The Small Employer Health Insurance Credit. [IRC §45R]
- The Simple Cafeteria Plan Safe Harbor Rules and other health related changes to cafeteria plans. [IRC §125]
- The requirement that drugs or medicine reimbursed under FSAs, HSAs, HRAs, and Archer MSAs be prescribed by a physician in order to be pre-tax. [Rev. Rul. 2010-23]
- The requirement that adult children up until age 26 be covered under an employer provided group health plan. [TD 9482]
- The requirement for employers to notify employees of health coverage options.
- The requirement for health insurance companies to issue refunds if they do not spend at least 80% of premium dollars on health care.
- The excise tax on expensive insurance. [IRC §4980I]
- The Indoor Tanning Tax. [IRC §5000B]
- The Patient-Centered Outcomes Research Trust Fund Fee. [TD 9602]
- The requirement to report the cost of health insurance on the W-2. [IRC §6051]
- Codification of the Economic Substance Doctrine. [IRC §6662, §6662A, §6664, §66676, and §7701]

In addition to the above tax provisions, the Affordable Care Act contains provisions for the establishment of the Health Insurance Marketplace, the prohibition on insurance companies denying coverage due to pre-existing conditions, the market reform rules that eliminate annual or lifetime caps on health care coverage, and numerous changes to Medicare and Medicaid rules.

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