September 2023
This month’s It Benefits You employee benefits newsletter content​ includes:
*After the date of this IBY publication, the IRS released the 2024 Affordable Care Act (ACA) affordability rates. For plan years beginning in 2024, employer-sponsored coverage will be considered affordable under the ACA’s pay or play rules if the employee’s required contribution for self-only minimum value coverage does not exceed 8.39% of their household income for the year. This percentage is a significant decrease to the affordability threshold.