W-2s Shine Light on Full Cost of Employer-Sponsored Health Coverage
Jan. 30 — A law that takes effect this month is helping employees better understand the total cost of healthcare coverage provided by their employers.
Under the Affordable Care Act, employers are now required to include a box on their employees’ W-2 forms that shows the total cost of employer-sponsored healthcare coverage, according to an article in The New York Times. The disclosure shows the combined portion paid by the employer and the employee for the employee’s healthcare coverage in 2012.
A note on the back of the W-2 reminds employees that this amount is not taxable, according to the article.
The disclosure is designed to make employees more aware of the total cost of their employer-sponsored healthcare coverage.
Publication Date: Wednesday, January 30, 2013