Blog

    ACA COMPLIANCE - Affordability Percentages Will Increase for 2019

    Posted by Soules Insurance on Tue, Jun 5, 2018

    On May 21, 2018, the Internal Revenue Service (IRS) issued Revenue Procedure 2018-34 to index the contribution percentages in 2019 for purposes of determining affordability of an employer’s plan under the Affordable Care Act (ACA). 

    For plan years beginning in 2019, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only coverage does not exceed:

    • 9.86 percent of the employee’s household income for the year, for purposes of both the pay or play rules and premium tax credit eligibility and
    • 8.3 percent of the employee’s household income for the year, for purposes of an individual mandate exemption (adjusted under separate guidance).
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    Tags: Health Insurance, Employers, Obamacare, ACA, Employees, ACA Compliance, Affordability Percentages, Percentage Increase

    Trump's Spending Resolution Affects ACA Taxes

    Posted by Soules Insurance on Tue, Feb 6, 2018

    On Jan. 22, 2018, President Donald Trump signed into law a short-term continuing spending resolution to end the government shutdown and continue funding through Feb. 8, 2018. The continuing resolution impacts three taxes and fees under the Affordable Care Act (ACA).

    Continue reading for more information on the changes taking effect.

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    Tags: Affordable Care Act, ACA, New Legislation, Spending Resolution, Taxes and Fees, Health Coverage, Taxes, ACA Compliance