IRS Significantly Decreases 2024 ACA Affordability to 8.39%
The Internal Revenue Service (IRS) recently released Revenue Procedure 2023-29, reducing the Affordable Care Act’s (ACA) affordability percentage to 8.39% for plan years beginning in 2024, down from 9.12% in 2023 (which was further decreased from 9.61% in 2022). What is the Affordability Percentage? The affordability percentage is the maximum rate of the employee’s household […]