Starting in 2012, employers will be responsible for reporting to employees the total cost of their group health coverage on their W-2 forms under the Patient Protection and Affordable Care Act. The forms for 2012 are required to be provided to employees in January 2013. This reporting requirement provides employees with information on the cost of their health benefit plans. This requirement is informational only and does not mean that employer-provided coverage will become taxable.
Employers are not required to report the cost of health coverage on any W-2 forms that are required to be furnished to employees prior to January 2013.
Employers that file fewer than 250 W-2 forms for 2011 will not be required to report the cost of health coverage on any W-2 forms furnished to employees before January 2014. This transition relief will continue until further guidance is issued.
For more information, please consult your tax advisor or visit the IRS website.
This information is provided for informational purposes only and does not constitute legal advice. Please consult your legal counsel regarding your specific situation.
Please note that this content is only intended to describe national health care reform requirements under the Patient Protection and Affordable Care Act (PPACA). It does not address Massachusetts law requirements or the potential impact of Massachusetts law on federal PPACA requirements.
For purposes of PPACA implementation, Blue Cross Blue Shield of Massachusetts assumes the plan year is the policy year, unless an account notifies us otherwise.
