Ep 43: ACA 2023 Affordability Percentage Adjustment

2022-08-09

Do you know the ACA, or Affordable Care Act, shared responsibility affordability percentage for 2023? On August 1st, 2022, the IRS issued revenue procedure 2022-34, which included an adjusted affordability percentage for 2023. The percentage was reduced to 9.12% for 2023, a substantial decrease from the 9.61% in 2022. This episode of Comply on the Fly covers how this change will affect offers of coverage for plan years beginning on or after January 1st, 2023. Turn to M3 and Karen B. (B...

Do you know the ACA, or Affordable Care Act, shared responsibility affordability percentage for 2023?

On August 1st, 2022, the IRS issued revenue procedure 2022-34, which included an adjusted affordability percentage for 2023. The percentage was reduced to 9.12% for 2023, a substantial decrease from the 9.61% in 2022. This episode of Comply on the Fly covers how this change will affect offers of coverage for plan years beginning on or after January 1st, 2023.

Turn to M3 and Karen B. (Breitnauer) for quick and timely answers to the most common employee benefits compliance questions.

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Please note: This podcast and the contents herein do not constitute legal advice. Seek the advice of counsel for any benefit compliance related implementation guidance or strategy.

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