The IRS released Notice 2019-29 that adjusts the affordability percentage for 2020.

To avoid penalties under the Affordable Care Act, large employers must offer minimum value, affordable coverage to their full-time employees. The IRS adjusts the percentage for calculating affordability each year. For 2020, coverage will be considered affordable if it costs less than 9.78% of the employee’s household income.

Marsha Marrullier, REBC