Monday, October 26, 2020

IRS Releases the Indexed 2020 Affordability Percentage

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United Benefit Advisors

(317) 705-1800
August 28, 2019

Karen Hsu, UBA Director of Compliance

The IRS released Notice 2019-29 that adjusts the affordability percentage for 2020.

To avoid penalties under the Affordable Care Act, large employers must offer minimum value, affordable coverage to their full-time employees. The IRS adjusts the percentage for calculating affordability each year. For 2020, coverage will be considered affordable if it costs less than 9.78% of the employee's household income.

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