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New Guidance Confirms 9.5%-of-Wages Safe Harbor for 'Affordability' Test Under ACA's Pay or Play Penalty
Miller Johnson Sept. 9, 2012
"Previously, the IRS indicated that it intended to provide a safe harbor under which employers will be deemed to satisfy the affordability test for a year if the premium for single employee coverage under the employer's lowest cost health option does not exceed 9.5% of the employee's wages for that year (as defined for purposes of Box 1 on Form W-2). Notice 2012-58 confirms that the IRS will maintain this safe harbor approach, at least through the end of 2014, for purposes of satisfying the affordability test to avoid the pay or play penalty."
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