S2-Ep42: ACA Affordability 2024 Percentage

Has the Affordable Care Act affordability calculation percentage for 2024 been released yet?

The IRS recently released Revenue Procedure 2023-29 decreasing the affordability calculation to 8.39% for 2024.
This Comply on the Fly helps employers understand if this decreased rate will require them reduce employee contribution amounts in order to meet ACA affordability in 2024.

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Turn to M3 and Karen B. (Breitnauer) for quick and timely answers to the most common employee benefits compliance questions. Season 2 of Comply on the Fly focuses on actual client questions, so send your compliance question to AskKarenB@m3ins.com and we'll do our best to cover it in an upcoming episode!