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ARTICLE · 25 MAY 2012

W-2 Reporting Requirements For Health Plan Costs Will Apply Soon

Godfrey & Kahn S.C.
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As part of federal health care reform legislation enacted in 2010, employers generally will be required to report the aggregate cost of employee health plan coverage on Forms W-2 (W-2) issued for 2012 (i.e., W-2s furnished to employees in January 2013).

United StatesEmployment and HR
Todd Cleary
Todd Cleary
Sven Skillrud
Sven Skillrud

As part of federal health care reform legislation enacted in 2010, employers generally will be required to report the aggregate cost of employee health plan coverage on Forms W-2 (W-2) issued for 2012 (i.e., W-2s furnished to employees in January 2013). This alert summarizes transition guidance the IRS recently issued for 2012. Please note these rules may change for future years.

What Is The Purpose of the New Health Plan Cost Reporting?

Ostensibly, the purpose of the new health plan cost reporting is to provide employees with comparable information regarding the cost of their health care coverage. However, many believe the reporting rules are really intended to make employees more aware of the value of their health plan benefits before health care reform's "Cadillac plan" excise taxes take effect in 2018. In any case, the new W-2 reporting requirement is for informational purposes only and does not impose taxation on any health plan coverage.

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