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Industry Updates Saturday, May 26, 2012  
 2011 W-2'S Must Show Value of Health Coverage

2011 W-2'S Must Show Value of Health Coverage

Starting in tax year 2011, the Affordable Care Act requires employers to report the value of the health insurance coverage they provide employees on each employee's annual Form W-2. This reporting is for informational purposes only, to show employees the value of their health care benefits so they can be more informed consumers. The amount reported does not affect tax liability, as the value of the employer contribution to health coverage continues to be excludible from an employee's income and it is not taxable.


For more information, visit http://www.irs.gov/newsroom/article/0,,id=220809,00.html?portlet=6


Posted on Thursday, August 19, 2010 (Archive on Monday, January 01, 0001)
Posted by kellymc  Contributed by
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