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Health Care Reform Advisory

December 9, 2010
The IRS recently issued a notice, stating that the W-2 reporting requirement is now not applicable until 2012 (i.e. for reporting on forms issued in January 2013 for the 2012 calendar year).

So what does this mean for you as an employer?
  • You have another year to prepare.
  • You should start tracking the value of your employees' health benefits (if you don't already).
  • Have a conversation with your payroll company on this topic and include working out a plan that will help you comply with the new guidelines.
Finally, a few other 'W-2' heath care reform reminders to keep in mind:
  • The intent of the law is to improve health care transparency and cost awareness.
  • Reporting an employee's health benefits will NOT be included in the employee's taxable income.
  • Employers will not be required to provide a breakdown of the various types of coverage (e.g. medical, dental, drug, etc.).
  • The employer will calculate the value of the premiums under the rules for COBRA continuation coverage.
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