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Employers Now Required To Report Employee Health Benefits On Form W-2’s

Published by on November 15, 2011

The Patient Protection and Affordable Care Act will require certain employers to report the cost of coverage under employer-sponsored group health plans.  More after the break. To give employers more time to update their payroll systems, the IRS has made the reporting optional for tax year 2011.  For smaller businesses, which file fewer than 250 […]

The Patient Protection and Affordable Care Act will require certain employers to report the cost of coverage under employer-sponsored group health plans.  More after the break.

To give employers more time to update their payroll systems, the IRS has made the reporting optional for tax year 2011.  For smaller businesses, which file fewer than 250 W-2 forms, the reporting requirement is also optional for tax year 2012. 

The 2011 Form W-2 is available on the IRS website and includes the codes that employers can use to report the cost of group health insurance coverage.  The IRS emphasizes that reporting is for informational purposes only, and employer health benefits are not taxable. 

For more information on the Affordable Care Act tax provisions, click here.

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