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The Affordable Care Act (ACA) implemented the individual mandate, also known as the “individual shared responsibility provision” that requires that most Americans have a qualifying Minimum Essential Coverage (MEC).
Until 2018, those who did not prove themselves to have health insurance when filing taxes were penalized. The Tax Cuts and Jobs Act of 2017 then eliminated that requirement. This bill effectively eliminated the individual mandate penalty, as of 2019 on a federal level.
Over the past two years, employees have been leaving their jobs in record numbers. In fact, this phenomenon, termed The Great Resignation, resulted in 20 million people leaving their jobs in the second half of 2021 alone. Due to mass resignations, employers are searching for solutions to successfully recruit and retain employees.
There are, of course, a variety of factors that contribute to an employee’s decision to leave or stay with a company. Today, we’ll be discussing just one of these factors: How health benefits can contribute to employee recruitment and retention.
President Joe Biden continues seeking ways to make healthcare more affordable for Americans. His efforts include aiding over five million people who fall into the ‘family glitch’ of the Affordable Care Act (ACA).
The ‘family glitch’ is a section of the ACA that decreases the ability for families to qualify for health subsidies that make healthcare more affordable.