Late Tuesday afternoon, the Internal Revenue Service (IRS) released Notice 2021-31. The notice provides much needed information regarding the calculation of the American Rescue Plan Act (ARPA) subsidy, the eligibility of individuals, the premium assistance period, and other information vital to employers, plan administrators, and insurers to understand the credit. Savoy will continue to provide details once we have fully reviewed the recent guidance. Additionally, we will cover this topic in our next weekly Legislative Updates Broadcast. In the meantime, please find the link to the notice below.
If you have any questions, please contact your Ascela Sales Team.