May 2013 Health Care Reform
Posted on: April 30, 2013Categories: HR & ComplianceSeveral key reforms under the Affordable Care Act (ACA) measure the affordability of employer-sponsored health insurance coverage. Effective January 1, 2014, the affordability of an employer’s health plan may be assessed in the following three contexts: the shared responsibility penalty for large employers, the premium tax credit for low-income individuals to purchase health coverage through an Affordable Care Act exchange, and the tax penalty imposed on individuals who fail to obtain health insurance coverage or the “individual mandate.” All three ACA mandates involve an affordability determination, but the test for affordability varies for each provision.
Additional Resources:
Click here to view the Federal Register-Health Insurance Premium Tax Credit
Click here to view the Clarke & Company Legislative Brief
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