Evolution of Benefits

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Affordability Percentages Will Increase for 2021

On Sept. 11, 2019, the IRS updated their Questions and Answers (Q&As) on the employer shared responsibility rules under the Affordable Care Act (ACA), to include adjusted penalty amounts for 2019 and 2020. According to the FAQs, the penalty amounts will be increased as follows.

person getting his blood check

Highlights

For plan years beginning in 2021, the ACA’s affordability contribution percentages are increased slightly to:
• 9.83% under the pay or play rules
• 9.83% under the premium tax credit eligibility rules
• 8.27% under an exemption from the individual mandate

Click here to read and download the latest ACA Compliance Bulletin.

 Category: ACA Compliance Bulletin, Upcoming Events & Newsletters

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Evolution of Benefits: Bringing Employee Benefits Full Circle

We help our clients envision, select, and implement a state of the art employee benefit plan customized to meet your company’s objectives and goals.  Our personalized employee benefit strategy looks at the big picture, then coordinates the specific programs, so clients have a cost-effective benefit package that meets the demographics and corporate culture of their organization.

 

 

 

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