The Beacon – August 28, 2023

MZQ Beacon Alert -August 28, 2023

In this Edition:

“Just when we thought affordability percentages couldn’t possibly go lower than the 2023 rate of 9.12%, the
Internal Revenue Service released Revenue Procedure 2023-29 declaring the Affordable Care Act (ACA)
benchmark for determining the affordability of employer-sponsored health coverage will significantly decrease
to 8.39% of an employee’s household income for the 2024 plan year. This almost ¾ percentage point is a
significant decrease for several reasons.”

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