Understanding Employee Benefits

IRS Issues Guidance on W-2 Reporting of Health Care Coverage

By | May 30, 2012

The IRS issued recently FAQs relating to W-2 reporting of employer-provided health care coverage, a health care reform requirement that employers must first meet for the 2012 calendar year. We have previously discussed these requirements [Link to earlier health care reform posts]. These FAQs largely restate prior guidance.

The IRS also released an article on its website that contains a chart showing the types of employer-sponsored health coverage and whether that coverage must be reported on the W-2. The chart is a useful summary of the reporting requirements. Employers may want to review the chart to make sure that they are prepared to report the proper amounts on the 2012 Form W-2s to be filed in January of 2013.

Contact Benefits Notes for more information.