10/15/2022
On October 11, 2022, the IRS released a final rule that changes the way health insurance affordability is determined for members of an employee’s family, beginning with Plan Year (PY) 2023 coverage. Beginning in 2023, if a consumer has an offer of employer-sponsored coverage that extends to the employee’s family members, the affordability of that offer of coverage for the family members (of the employee) will be based on the family premium amount, not the amount the employee must pay for self-only coverage. Essentially, if an employee is paying 9.12% or more of their income to pay for health insurance for the family through their employers 2023 Plan Year, that would be deemed unaffordable. Employee would stay on employer plan and have other members of family enroll on the Exchange and would receive premium tax credit and depending on situation would receive cost share reductions. Call me for further explanation or to see if you qualify. 407-971-2002
