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On Aug. 16th, President Biden signed the Inflation Reduction Act into law, securing, among other things, a three-year extension on Advanced Premium Tax Credits, or APTCs. The extension of the credits is good for employers and employees across the country, according to Remodel Health, a health benefits software company whose 2022 National Health Benefits Analysis came out this week. According to the analysis, increasing numbers of employees are turning away from group plans and towards individual ACA marketplace offerings, a move that saves both employers and employees money.

According to the report, 3 out of 5 employees choose a marketplace plan when given the option. The next most popular choices were joining a spouse or parent’s plan, which 14.6% of employees favored, or joining Medicaid/CHIP, which just over 10% of employees did. This number was up 14% compared to 2020, when only about half of all employees chose marketplace plans.

 

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