Revenue Procedure 2023-39 was released on August 23, 2023, by the IRS, announcing the contribution percentage for 2024. This percentage determines the affordability of an employer’s plan under the Affordable Care Act (ACA). Shared responsibility, or pay or play rules, require applicable large employers (ALEs) to offer affordable health coverage to …
Family Coverage Affordability Rule to Change
A proposed rule was released by the IRS on April 5, 2022, to change the existing eligibility standards for the premium tax credit (PTC). The PTC is available to eligible individuals who purchased health insurance through the Exchange. However, the PTC is not available to employees with affordable, minimum value …