024 ACA Affordability Threshold Decreased to 8.39%

The IRS announced the adjusted affordability contribution percentage for all plans starting after December 31, 2023.  In 2024 an employee’s required contribution to a benefit plan cannot exceed 8.39% (decreasing from 9.12% in 2023) of their annual household income for the plan to be considered “affordable” under the ACA.

Depending on the circumstances premiums that were affordable in 2023 might not be affordable in 2024. 

Click here to learn more about how this can affect your clients.