Aca Affordability 2024 Irs. As a reminder, applicable large employers (ales) subject to the aca. The irs once again decreased the affordability baseline from 9.12% in 2023 to 8.39% in 2024.
2023 was 9.12% 2022 was 9.61%. For 2023, the irs set the affordability percentage at 9.12% (this was a significant decrease from 9.61% in 2022).
The Irs Has Released A Revenue Procedure, Which Significantly Decreases The Affordability Threshold For Aca (“Affordable Care Act”).
The information was detailed in irs rev.
As A Reminder, Applicable Large Employers (Ales) Subject To The Aca.
2023 was 9.12% 2022 was 9.61%.
However, In Accordance With The Newly Announced Affordability Percentage For 2024 (8.39%), An Employee Would Need To Make At Least $28,605.48 Per Year ($2,400/8.39%).
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In Late August The Irs Announced Changes To The 2024 Health Plan Affordability Threshold.
The irs lowered the threshold for affordable employer coverage under the affordable care act for 2024 to 8.39% of an employee's household income, down from.
The Irs Has Released Updated Penalty Amounts For 2024 Related To The Employer Shared Responsibility (Pay Or Play) Rules Under The Affordable Care Act (Aca).
Aca affordability for 2024 will be based on 8.39% of their chosen safe harbor.
The Percentage That Should Be Used For 2024 Plan Years Is 8.39% (Which Is Down From 9.12% In 2023).