At Sterling Benefits, we are proactively working with multiple resources to dissect the various facets of the law and to understand the guidelines and timelines it presents to our clients. You can expect that we will provide ongoing communications and information as interpretation and implementation details continue to unfold from the government.

Our priority at Sterling Benefits is to stay focused on delivering value and quality customer service to our customers as we work together with health care reform. Significant changes will take place in 2014. In the meantime, there are some items that will require attention much sooner. We will keep you posted as details and clarifications from the government are made available. We encourage you to review this information and utilize our office as a resource in addressing questions and concerns.

Friday, January 24, 2014

HHS Releases 2014 Federal Poverty Level Guidelines

HHS has released 2014 federal poverty guidelines.  Updated annually for inflation, the 2014 guidelines will set the income thresholds for subsidy eligibility on exchanges for 2015. The threshold (in the 48 contiguous states and DC) for one person will be $11,670, an $180 increase over the 2013 level.  An employee's receipt of exchange subsidies could trigger an employer shared responsibility penalty starting in 2015.  IRS proposed rules include an employer affordability safe harbor based on the federal poverty level.

2014 POVERTY GUIDELINES FOR THE 48 CONTIGUOUS STATES AND THE DISTRICT OF COLUMBIA

Persons in family/household Poverty guideline
  1.  ......................................................... $11,670
  2.  ........................................................... 15,730
  3.  ........................................................... 19,790
  4.  ........................................................... 23,850
  5.  ........................................................... 27,910
  6.  ........................................................... 31,970
  7.  ........................................................... 36,030
  8.  ........................................................... 40,090
For families/households with more than 8 persons, add $4,060 for each additional person.


2014 POVERTY GUIDELINES FOR ALASKA

Persons in family/household Poverty guideline
  1.  .......................................................... $14,580
  2.  ............................................................ 19,660
  3.  ............................................................ 24,740
  4.  ............................................................ 29,820
  5.  ............................................................ 34,900
  6.  ............................................................ 39,980
  7.  ............................................................ 45,060
  8.  ............................................................ 50,140
For families/households with more than 8 persons, add $5,080 for each additional person.


2014 POVERTY GUIDELINES FOR HAWAII

Persons in family/household Poverty guideline
  1.  .......................................................... $13,420
  2.  ............................................................ 18,090
  3.  ............................................................ 22,760
  4.  ............................................................ 27,430
  5.  ............................................................ 32,100
  6.  ............................................................ 36,770
  7.  ............................................................ 41,440
  8.  ............................................................ 46,110
For families/households with more than 8 persons, add $4,670 for each additional person.


Clink on the link to the federal register:  http://www.gpo.gov/fdsys/pkg/FR-2014-01-22/pdf/2014-01303.pdf
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