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2 hours
CTEC IRS NASBA

Tax Treatment of Sickness and Injury Plans

Course Description:

Health insurance is so central to the health and well-being of people that it may be hard for many Americans to believe it could ever have been a less important factor in helping to promote good health than it is today. In fact, health insurance as it is recognized today is a relatively recent development.

Since the early development of health insurance coverage, many changes have occurred in the manner in which health care services are delivered and paid for. Among those changes is the emergence of various tax-favored health plans. This course will examine many of those tax-favored health plans.

Learning Objectives:

Upon completion of this course, you should be able to:

  • Describe the tax treatment of premiums for and benefits from health insurance policies;
  • Explain the rules governing health savings accounts and Archer medical savings accounts, including their requirements and limits relative to -
    • Eligibility,
    • Contributions,
    • Distributions,
    • Transfers, and
    • Rollovers;
  • Clarify the elements of a health reimbursement account and its tax treatment;
  • Compare the tax treatment of employer-paid and individually-paid disability income insurance policies;
  • Describe the tax treatment of business-related disability coverage, including -
    • Disability overhead expense policies,
    • Disability buyout policies, and
    • Keyperson disability policies; and
  • Explain the tax treatment of long term care insurance.

Field of Study: Tax
Course Level: Intermediate
Prerequisite: None
Delivery Method: QAS / Self Study
Expiration: In accordance with NASBA standards, access to this course will terminate one year from the date of purchase. Incomplete courses will no longer be accessible beyond the one year deadline.

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