HR Professionals Magazine January 2016

 

January 2016 Issue Highlights

 

In the Spotlight: Susan R. Meisinger, SHRM-SCP, SPHR, JD


 Topics


HR breaking newsIRS Announces 2016 ACA Affordability Percentage

The IRS ACA affordability contribution percentages were further increased for 2016. Under the ACA, the affordability of an employer’s plan may be assessed in the following three contexts:

  •  Shared responsibility penalty for applicable large employers. This refers to the pay or play rules or employer mandate;
  •  An exemption from the tax penalty imposed on individuals who fail to obtain health coverage. This refers to the individual mandate.
  •  The premium tax credit for low-income individuals to purchase health coverage through a Health Care Exchange.

The affordability percentage for the employer mandate and premium tax credit for 2016 is 9.66% under the employer mandate and premium tax credit eligibility rules.

For plan years beginning in 2016, employer- sponsored coverage will generally be considered affordable under both the pay or play rules and the premium tax credit eligibility rules if the employee’s required contribution for self-only coverage does not exceed 9.66 % of the employee’s household income for the year. But employers using an affordability safe harbor under the pay or play rules should continue using a contribution percentage of 9.5 % to measure their plan’s affordability.

 

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HR Professionals Magazine is an exciting monthly trade publication designed to educate and inform HR professionals in every discipline of the Human Resources function. We cover current hot topics on employment law, staffing and recruiting, compensation and benefits, employee relations, diversity, ethics, business leadership, relocation, employee training and development, payroll, and HR technology. Employment law will not only focus on federal legislation, but also on state and local regulations for Tennessee, Georgia, Kentucky, Arkansas, and Mississippi.  Articles are detailed and comprehensive written by local HR specialists, educators, and attorneys who are highly regarded as experts in their respective fields.


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