024 ACA Affordability Threshold Decreased to 8.39%
Posted on September 6, 2023
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.
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