Reminder: Reporting Health Care Coverage on Employee W-2 Forms (Applies to Employers Filing 250 or more W-2 Forms)
As tax season continues, please remind your clients to include the cost of health care coverage on their employees’ W-2 forms. This applies only to employers who file 250 or more W-2 forms.
The cost of employer-sponsored health plans must be reported. Excepted benefits like long-term care coverage, disability insurance or standalone dental and vision insurance should not be included.
The amount on the W-2 form will not be taxed. Both employer and employee contributions must be reported.
Review the latest guidance from the Internal Revenue Service
If you have any questions, please contact your Account Consultant.