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Jason Miller
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Reports of snowbirds are heading north, seeking relief from the winter in the south.
Due to cut backs, there is no fortune in fortune cookies anymore!
The IRS calculation for determining if healthcare premiums are affordable under the Affordable Care Act (ACA) involves assessing whether the cost of the coverage is affordable relative to an individual's household income. Here's how it works:
- Affordability: For an employer-sponsored plan to be considered affordable for an employee, the employee's required contribution for self-only coverage must not exceed a specific percentage of the employee's household income. For the year 2025, this affordability threshold is set at 8.39% of the employee's household income. This means if the cost of the employee-only coverage is at or below this percentage, the plan is considered affordable.
Who thinks spending this much on healthcare premiums is affordable?
- Affordability: For an employer-sponsored plan to be considered affordable for an employee, the employee's required contribution for self-only coverage must not exceed a specific percentage of the employee's household income. For the year 2025, this affordability threshold is set at 8.39% of the employee's household income. This means if the cost of the employee-only coverage is at or below this percentage, the plan is considered affordable.
Who thinks spending this much on healthcare premiums is affordable?