SSG Insights | Week of October 14_2022
IRS Finalizes Change to Family Coverage Affordability Rules
On Oct. 11, 2022, the IRS released a final rule that changes the eligibility rules for the premium tax credit (PTC) for family members. Individuals are not eligible for the PTC if they have access to employer-sponsored health coverage that is affordable and provides minimum value. The final rule provides that affordability of employer-sponsored coverage for family members will be determined based on the cost of family coverage, effective for taxable years beginning after Dec. 31, 2022. This Legal Update summarizes the final rule and its impact.
What Employers Should Know About the WARN Act
The Worker Adjustment and Retraining Notification Act (WARN) took effect in 1989 to protect workers, their families and communities by ensuring workers receive advance notice about qualified plant closings and mass layoffs. With sufficient notice, workers can better plan for and adjust to a loss of employment, and communities are better able to cope with large-scale job loss. This HR Insights article provides an overview of what employers should know about the WARN Act.
September 2022 | SSG Compliance Recap
In this Issue:
- Prescription Drug Cost Reporting
- 2023 Affordable Care Act Reminders For Applicable Large Employers
- Departments Issue No Surprises Act FAQ And Clarify Independent Dispute Resolution Process
- ACA Preventive Services Come Into Question
- Question of the Month
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