COVID-19 Vaccine Surcharges, Mandates and Incentives: What Employers Should Know
COVID-19 vaccinations are a highly contentious topic in America. Many U.S. adults still haven’t gotten the shot despite the Food and Drug Administration’s recent (FDA) full approval of the Pfizer-BioNTech vaccine.
This reluctance is seen as a problem by health experts, who contest that vaccination is the most effective way to control the widespread coronavirus Delta variant. It’s also a problem for employers wishing to maintain uninterrupted operations and keep employees healthy.
So, if an employer wants a vaccinated workforce but is dealing with vaccine skepticism, what are their options? This article explores this complicated situation and discusses the multitude of choices facing employers.
Read more by downloading our HR Insights Bulletin below:
Affordability Percentages Will Decrease for 2022
Decrease for 2022
On Aug. 30, 2021, the IRS issued Revenue Procedure 2021-36 to index the contribution percentages in 2022 for determining affordability of an employer’s plan under the Affordable Care Act (ACA).
For plan years beginning in 2022, employer-sponsored coverage will be considered affordable if the employee’s required contribution for self-only coverage does not exceed:
- 9.61% of the employee’s household income for the year for purposes of both the pay or play rules and premium tax credit eligibility; and
- 8.09% of the employee’s household income for the year for purposes of an individual mandate exemption (adjusted under separate guidance). Although this penalty was reduced to zero in 2019, some individuals may need to claim an exemption for other purposes.
Read more by downloading our ACA Compliance Overview below:
Open Enrollment 2022 - Benefit Notices
Employers that sponsor group health plans should provide certain benefit notices in connection with their plans’ open enrollment periods. This Compliance Overview includes a chart that summarizes the benefit notices that employers should provide in connection with their 2022 open enrollment periods.
Other notices, such as the Women’s Health and Cancer Rights Act (WHCRA) notice, must be distributed annually. Although these annual notices may be provided at different times throughout the year, employers often choose to include them in their open enrollment materials for administrative convenience.
Read more by downloading our Compliance Overview below: