In the recently issued Revenue Procedure 2019-29, the IRS has announced the Affordable Care Act's affordability threshold for plan year 2020. Further, the Department of Health and Human Services has released the ACA's employer penalties and out-of-pocket limits for 2020.
The ACA requires that employers with 50 or more full-time-equivalent employees provide minimum essential coverage that is affordable — or face a penalty for not complying. The affordability requirement is satisfied if an employee's premium for self-only coverage does not exceed a specific percentage of their household income or a certain safe harbor amount.
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