For medical plan years beginning in 2023, the Internal Revenue Service (IRS) recently announced a significant decrease in the affordability percentage to 9.12%, from the previous level of 9.61%. This could trigger penalties for large employers who fail to adjust to meet this new threshold. How to Avoid Costly Mistakes Group medical plans have hit employers with more expensive rates. Medical rates going up with IRS affordability percentages going down means you may need to absorb more...

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