April 5, 2022, 1:00 PM; Updated: April 5, 2022, 6:29 PM
The Internal Revenue Service Tuesday published a proposed rule to ensure its regulations are consistent with “the policy to protect and strengthen” the Affordable Care Act.
The IRS proposal would amend regulations on Obamacare’s premium tax credits to require that “affordability” of company plans be based on the employees’ share plus their family members. Current regulations require that employers offer affordable coverage based on the cost of covering the employee only.
The proposed rule (RIN 1545-BQ16) stems from an executive order issued in January 2021 by President Joe Biden calling for the departments of the Treasury, Labor, and ...