First Financial Blog

Industry insights, tips and news.

IRS Closes
“Family Glitch”

Under longstanding ACA policy, people who seek to purchase their medical coverage on the Marketplace are provided tax subsidies to help with the cost if they meet certain criteria. Eligibility for those tax subsidies has been expanded with the release of Internal Revenue Service (IRS) Document Number 2022-22184. One of the criteria of the previous regulations is that individuals did not have access to affordable minimum essential coverage elsewhere – usually employer sponsored coverage. When you offered your employees coverage deemed “affordable” based on the individual rate, members of your employee’s household were barred from receiving a tax credit to

Read More »

Submit Your Resume