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Latest News

IRS Releases Final Rules on Health Care Reform Costs

The affordability test applies to employer-sponsored health plans. An employee is eligible to receive a federal subsidy to purchase insurance through an exchange if his or her employer's plan premium contribution exceeds 9.5 percent of his or her household income, according to IRS guidelines.

  • By Max Mihelich
  • Published: February 1, 2013
  • Comments (0)
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The Internal Revenue Service published Jan. 30 final health care reform law affordability rules for employer sponsored health plans.

Under the Affordable Care Act, if employer coverage is not affordable, employers are liable for a $3,000 penalty for each full-time employee whose required premium contribution does not meet the affordability test, which deems coverage unaffordable if an employee's premium contribution for that coverage exceeds 9.5 percent of his or her household income.

Such employees will be eligible to receive a premium subsidy to buy coverage through a government-run health insurance exchange, according to an IRS release.

The IRS states the requirement only applies to self-only coverage.

Max Mihelich is Workforce's editorial intern. Comment below or email editors@workforce.com.

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