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IRS clarifies health reform’s W-2 rules

Jared Bilski
by Jared Bilski
January 9, 2012
  • Benefits
1 minute read
  • SHARE ON

Still got some questions about what it is you are (and aren’t) required to report on workers’ W-2s under health reform? You’re not alone.

That’s why the Service recently released even more guidance on the W-2 reporting requirements under the healthcare reform law.

The healthcare reform law requires employers issuing more than 250 W-2 forms to report the cost of healthcare coverage starting with the 2012 tax year (those issued in 2013).

Companies that have fewer than 250 W-2s don’t have to comply with the reporting requirements until 2013 (W-2s issued in 2014) – and possibly even longer.

Here are some of the main points in the latest IRS guidance:

  • Employers can report contributions to Health Reimbursement Arrangements (but aren’t required to)
  • Costs of services through employee assistance programs, wellness programs or on-site health clinics don’t need to be reported unless the employer charges premiums for those services to COBRA beneficiaries, and
  • Any coverage that is taxable to workers (such as insurance for dependents over 26) must be reported.

To view the complete guidance, click.

 

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