PPACA

Question 1

What is the threshold to begin deducting medical expenses under the PPACA?

Answer 1

10% of AGI (raised from expenses above 7.5% before the PPACA).

Question 2

What is the ACA Individual Mandate Penalty after 2016?

Answer 2

$695 per adult (which will be inflation adjusted).

Question 3

What is the ACA cut-off for “large employers” subject to employer mandate penalty?

Answer 3

50 FTEs.

Question 4

What is the percentage of ACA’s Medicare surtax on unearned income?

Answer 4

3.8% (of lesser of NII or excess of AGI over AGI thresholds).

Question 5

What does the acronym PPACA mean?

Answer 5

The Patient Protection and Affordable Care Act, more commonly known as the ACA or Obamacare.

Question 6

What are the thresholds for ACA’s Medicare surtax on unearned income?

Answer 6

An AGI under $200,000 (filing individually), $250,000 (married couples filing jointly), or $125,000 (married couple filing separately).