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Haylor Risk Management Blog

IRS Issues Proposed Rules to Fix the Affordability “Family Glitch”

Posted by Benefit Consulting Team on Apr 7, 2022 11:10:32 AM
The IRS has issued proposed rules that would change the way employer-sponsored coverage would be treated when determining if a family is eligible for premium tax credits (PTC) when purchasing individual health insurance through a public Marketplace. The proposed rules would fix the so-called “family glitch” that currently requires employer plan affordability to be based on the employee-only cost for coverage, while not taking into consideration the cost for the employee’s family to participate. The change would allow more spouses and dependents to qualify for premium tax credits toward the cost of individual health coverage purchased through a public Exchange.

 

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Topics: Updated Compliance Alert, Insurance, Compliance, Healthcare, Benefits, Affordable Care Act