HIGHLIGHTS The IRS has announced the affordability percentage that will apply under the ACA's pay or play rules for plan years beginning in 2024. This percentage (8.39%) is a significant decrease to the affordability threshold. ALEs will need to consider this affordability percentage in developing their health plan contribution strategies for the 2024 plan year. ALEs may need to lower the amount employees have to contribute for 2024 to meet the lowered percentage. On Aug. 23, 2023, the IRS issued Revenue Procedure 2023-29 to index the contribution percentage in 2024 for determining the affordability of an employer's plan under the…
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