Under health care reform, employers filing 250 or more W-2s are required to report to employees the cost of their employer-sponsored group health plan coverage beginning in calendar year 2012. For employers filing less than 250 W-2s, this requirement will not go into effect until calendar year 2013. This reporting is for informational purposes only and is intended to inform employees of the cost of their health care coverage.
To comply with this new requirement, employers will need to:
Assess the applicable employer-sponsored coverage that is provided to each employee;
Calculate the aggregate cost of such coverage for each employee; and
Report that cost on each employee’s Form W-2, in box 12, using code DD, beginning with the W-2 issued in January 2013 (i.e., the Form W-2 issued for the 2012 calendar year).
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This information is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.
Information contained in this FOCUS is accurate as of the date of this publication. We will continue to provide you with updates as they become available.
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