Estimated Costs of Compliance with the Affordable Care Act

The college estimates that it will cost approximately $1,650 in FY 2023-24 to pay for the required taxes and fees resulting from the federal Health Care Reform Acts of 2010, Public Laws 111-148 and 111-152. This estimate excludes any additional administrative cost of compliance and assumes that no additional participants will be required to be covered under our employee health insurance plan. Actual costs in FY 2022-23, FY 2021-22, FY 2020-2021, FY 2019-20, FY 2018-19, FY 2017-18, and FY 2016-17 amounted to $1,680, $1,654, $1,644, $1,464, $1,431, $576, and $1,798, respectively.