IRS Lowers ACA Affordability Percentage for 2024
We would like to inform you that the Internal Revenue Service (IRS) has recently revised the Affordable Care Act (ACA) affordability percentage for the year 2024 to 8.39%. This important update has significant implications for both employers and potential clients in relation to health insurance plans.
Under this new regulation, if an employer's health insurance plan covers the entire family, without restricting it solely to the employee, and the cost of this plan exceeds 8.39% of the total family income, individuals have the legal option to choose an ACA plan with a subsidy instead.
We encourage you to keep this information in mind when engaging with prospects and clients, as it can be a valuable point of discussion during consultations and open enrollment periods. It may be particularly relevant for individuals or families who are seeking more cost-effective healthcare solutions.
For a more detailed understanding of this recent development and its implications, we have prepared an article for your reference. This article provides information about the changes and how they may impact both employers and potential clients.
