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What's the new IRS affordability percentage for ACA in 2022

WebOn August 30, 2021, the Internal Revenue Service (IRS) issued Revenue Procedure 2021-36, decreasing the affordability percentage index from 9.83% in 2021 to 9.61% for plan …

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URL: https://workforce.equifax.com/all-blogs/-/post/whats-the-new-irs-affordability-percentage-for-aca-in-2022

Equifax Announces Acquisition of Health e (fx)

Web“The Health e(fx) team, relationships and cloud-native technologies are complementary to our business and existing ACA product and will provide us with …

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Affordable Care Act penalties and procedures update for 2023

WebThe Internal Revenue Service has updated the revenue procedure which indexes the health plan contribution percentage required by employers when …

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Understanding ACA Affordability Safe Harbor Options for 2022

WebAffordable Care Act Management - Safe Harbor Info Sheet. As mandated by the Affordable Care Act (ACA), eligible employers must offer healthcare that meets minimum essential …

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ACA 2023 End of Year Review

WebThe following new penalty amounts will be effective beginning with the 2024 tax year: Penalty A—failure to offer minimum essential coverage to 95% of full-time, …

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The IRS announced that employer-sponsored health coverage will …

WebChristy Abend has more than two decades working in the human resources and product management space, with a concentration in health and welfare benefits and …

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Managing State Individual Healthcare Mandates

WebManaging the Complexities of State Individual Healthcare Mandates. Typically, states have a different definition of who is considered a resident and who …

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Affordable Care Act Management

WebUnder the Employer Shared Responsibility Provisions of the Affordable Care Act (ACA), large employers must offer health coverage that meets Minimum Essential Coverage …

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Cost of ACA Employer Mandate Penalties to rise for 2024

WebNoncompliance penalties are increasing for 2024. Penalty A will increase from $2,880 ($240/month) in 2023 to $2,970 ($247.50/month). Penalty B will increase …

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The American Rescue Plan Act’s Impact on the ACA

WebThe American Rescue Plan Act of 2021. In January of 2021, President Biden signed the American Rescue Plan into law. Believing that the COVID-19 pandemic and …

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ACA Penalties Calculator Equifax Workforce Solutions

WebThis calculator assumes 12 full months of penalties per affected employee, however, actual penalties are incurred by month. The A-Penalty is triggered when an employer fails to …

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ACA Penalties Fall for 2025

WebHere’s a recap: For tax year 2025. Penalty A—failure to offer minimum essential coverage to 95% of full-time, benefit eligible employees—will decrease from …

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ACA HQ™ Equifax Workforce Solutions

WebReport offers of health care coverage using Forms 1095 and 1094 to the IRS. Equifax was first to offer expanded reporting functionality which includes form generation and …

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Understanding ACA Affordability Safe Harbor Options

WebThe employee-required contribution includes amounts paid through salary reduction or otherwise and takes into account the effects of employer arrangements such …

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Employer Considerations for 2020 Health Insurance Reporting

WebOn June 13, the U.S. Department of Health and Human Services, Labor, and the Treasury issued the final rules on ICHRAs and the impacts for employers. For plan …

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ACA HQ™ Plans Equifax Workforce Solutions

WebAll ACA Advanced Features Plus. Designated success manager for hands-on support. IRS fine assessment letter and subsidy notice (optional) *Applicable Large Employers …

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OSHA Guidelines for Vaccine Mandates: What You Need to Know

WebOSHA Guidelines Released. On November 4, 2021 the Occupational Safety and Health Administration (OSHA) released its Emergency Temporary Standard (ETS) …

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Employment Verifications Equifax Workforce Solutions

WebThe Work Number is a more private, digital way to help automate your employee verifications. Help credentialed verifiers instantly get the information they need so that …

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Measuring ACA Eligibility for Employees on Leave of Absence

WebUnder the Employer Shared Responsibility Provisions of the ACA, large employers must offer health coverage that meets Minimum Essential Coverage (MEC) …

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ACA responsibilities for companies with seasonal workers

WebALEs must offer coverage to at least 95% of their benefits eligible workforce, eligible seasonal employees included, or face potential 4980H (a) penalties. For tax year …

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Important Things to Know About ACA Forms 1094 and 1095

WebIRS Form 1094. Form 1094 is considered the cover sheet for all Forms 1095. The form aggregates information regarding total form counts on behalf of a single FEIN, …

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Healthcare Workers May Request Expedited Processing for EADs

WebIn response to the hospital staff shortage, the U.S. government is offering a way for healthcare workers to quickly renew employment permits known as Employment …

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