Employer Compliance

2024 Cost of Living Adjustment

2024 IRS and Social Security Cost-of-Living Adjustments

The Internal Revenue Service (IRS) has recently unveiled the anticipated cost-of-living adjustments for the applicable dollar limits on a variety of employer-sponsored retirement and welfare plans for the year 2024. While we await the release of certain health and welfare plan limits, this article will be diligently updated once those figures are made available. What’s […]

2024 IRS and Social Security Cost-of-Living Adjustments Read More »

ACA Compliance

ACA Form Electronic Filing Changes in 2024

Starting in 2024, significant changes are taking effect in the way employers file their Affordable Care Act (ACA) forms. These changes expand the electronic filing requirement to include more employers. In this article, we’ll explain the updated rules and how they impact businesses. Electronic Filing Threshold: Prior to 2024, employers were only required to file

ACA Form Electronic Filing Changes in 2024 Read More »

Unraveling Healthcare Costs: FAQs on ACA and No Surprises Act – Part 60

To provide clarity in the complex realm of healthcare legislation, the U.S. Departments of Labor (DOL), Health and Human Services (HHS), and the Treasury issued a set of FAQs known as Part 60. These FAQs aim to explain the implementation of key provisions within the Affordable Care Act (ACA) and the No Surprises Act, addressing

Unraveling Healthcare Costs: FAQs on ACA and No Surprises Act – Part 60 Read More »

ACA Affordability Percentage Decreases from 9.12% to 8.39% for 2024

The IRS has recently issued Revenue Procedure 2023-29, announcing a significant change in the Affordable Care Act (ACA) benchmark for evaluating the affordability of employer-sponsored health coverage. This alteration lowers the threshold to 8.39 percent of an employee’s household income for the 2024 plan year. This represents a substantial reduction of almost three-quarters of a

ACA Affordability Percentage Decreases from 9.12% to 8.39% for 2024 Read More »