Employee Benefits-Article on The W-2 Reporting Of The Cost Of Group Health Plan Coverage

Further to yesterday’s blog, I have been asked about the requirement in the 2010 health care act for reporting the cost of group health care coverage on Form W-2. The requirement first applies to Form W-2s for 2012, which will be furnished to employees in 2013 (earlier reporting was voluntary). Employers need to focus on this reporting requirement now, since employers should currently be capturing the costs to be reported on the 2012 Form W-2s. Helpfully, the reporting requirement does not apply to an employer, for a calendar year, if the employer filed fewer than 250 Form W-2s for the previous calendar year.

For those employers not excepted, I am making available an article that I have prepared on the Form W-2 reporting requirement for health care coverage costs. Please call me (516-307-1550) or contact me through the blog if you would like a copy. The article is based on IRS guidance in Notice 2012-9. Note that the IRS has also made available a chart showing the coverage costs that must be reported.