2022 ACA affordability rate announced-Bukaty-Hubsopt-Fall-2021

2022 ACA affordability rate announced

Authored by Bukaty Companies on November 4, 2021

Within the IRS-issued Revenue Procedure 2021-36, the affordability threshold for the 2022 calendar year has been set to 9.61% of household income. This percentage is a decrease from the 2021 threshold of 9.83%. The affordability threshold is used to determine an individual’s eligibility for a premium tax credit. It also sets the standard for employer-sponsored health care coverage affordability. Employers with 50-plus, full-time-equivalent employees are subject to a shared responsibility penalty resulting from a failure to provide full-time employees with affordable coverage, as established through the Affordable Care Act.

YEAR

AFFORDABILITY %

MAXIMUM MONTHLY
CONTRUBTION

PRIOR YEAR FEDERAL POVERTY LEVEL (FPL)

2022

9.61%

$103.15

$12,880

2021

9.83%

$104.52

$12,760

2020

9.78%

$101.79

$12,490

 

 

 

Blog Category: Benefits, Compliance

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