For purposes of calculating affordability under §4980h for. As employers are preparing for 2024 open enrollment, they should be aware that the affordable care act (aca) affordability safe harbors are going down for 2024.
Monthly 2024 safe harbor amount = [8.39% x federal poverty level (fpl)] /. What does that mean for your company’s ty2024 aca compliance?
This Was Known As The Aca Subsidy Cliff.
Aca affordability rate for 2024.
The Fpl Safe Harbor Is The Easiest To Calculate.
2024 aca affordability percentage drops to 8.39%:
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What Does That Mean For Your Company’s Ty2024 Aca Compliance?
The federal poverty level is $14,580 for an individual ($30,000 for a family of 4) for 2024 coverage.
The Federal Poverty Line (Fpl) Safe Harbor Is A Method For Proving Aca Affordability That Is Based On An Employee's Annual Household Income, Which Is A Function Of That.
Calculating affordability using the fpl safe harbor.