Aca Affordability Percentage For 2024. The irs released rev proc. 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).
Percentage of the new aca premium tax credit spending, if the policy was made permanent, that would go to households with incomes above 400 percent of the federal poverty level for coverage years. 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).
The Percentage That Should Be Used For 2024 Plan Years Is 8.39% (Which Is Down From 9.12% In 2023).
This is an annually indexed amount and a sharp decrease from 2023.
For 2023, The Irs Set The Affordability Percentage At 9.12% (This Was A Significant Decrease From 9.61% In 2022).
Effective for plan years beginning on or after january 1, 2024, the percentage to be used in affordability calculations is 8.39%.
The Internal Revenue Service (Irs) Recently Announced That The Affordability Percentage Used To Determine Whether Coverage Offered By Employers Is Affordable For 2024 Will Be 8.39%.
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Last Year, The Irs Announced A Big Change To The Patient Protection And Affordable Care Act (Aca) Affordability Percentage For 2024.
This means that employees will be required to pay a smaller percentage towards their monthly medical premiums than the previous year's rate of 9.12%.
2024 Aca Affordability Percentage Drops To 8.39%:
The internal revenue service (irs) decreased the affordable care act (aca) affordability percentage for 2024 to 8.39%.
The Percentage That Should Be Used For 2024 Plan Years Is 8.39% (Which Is Down From 9.12% In 2023).