A job-based health insurance plan is considered to be "affordable" if the employee’s share of premiums for the lowest cost self-only coverage that meets the minimum value standard is less than _____ of their family’s income. a. 8.56% b. 9.45% c. 9.78% d. 10%
A job-based health plan is considered to be affordable if the employee’s share of premiums for the lowest cost self-only coverage that meets the minimum value standard is less than 9.78% of their family’s income. Therefore, if the employee’s share of the premiums for a plan that covers only the individual employee and not his or her family is less than 9.78% of his family’s income, the plan will be considered affordable.