Employee Benefit Plan Limits for 2023November 3, 2022
2023 Limits to Know – InfographicDecember 6, 2022
Affordable Care Act: 2023 Compliance Checklist
The Affordable Care Act (ACA) made a number of significant reforms to group health plan coverage when it was enacted in 2010. Since then, changes have been made to various ACA requirements that employers should be aware of. These changes include annual cost-of-living increases to certain ACA dollar limits, extensions to ACA reporting deadlines and updates to preventive care
Changes to some ACA requirements will take effect in 2023 for employers sponsoring group health plans. To prepare for 2023, employers should review these requirements and develop a compliance strategy. Employers should ensure that their health plan documents, including the summary of benefits and coverage (SBC), are updated to reflect any new plan limits and that up-to-date information is communicated to employees at open enrollment time.
This ACA Overview provides an ACA compliance checklist for 2023. Please contact Clark & Associates for assistance or if you have questions about
changes that were required in previous years.
LINKS AND RESOURCES
- Department of Health and Human Services’ (HHS) guidance established the cost-sharing limits for 2023.
- IRS Rev. Proc. 2022-34 indexed the affordability contribution percentages for 2023.
- IRS Rev. Proc. 2022-38 increased the maximum contribution limit for health flexible spending accounts (FSAs) for 2023.
Click Link for further information and checklist: Affordable Care Act 2023 Compliance Checklist
This Compliance Overview is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice. ©2022 Zywave, Inc. All rights reserved.