The Payroll Experts Speak Out

Healthcare Reform: Women's Preventive Care

Wednesday, August 10, 2011
Recently, the Department of Health and Human Services (HHS) released additional information guidelines that expand preventative services for women. The reasoning was that women have unique health needs and higher rates of chronic disease such as diabetes, heart disease and stroke.

What is covered?
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Employer-Provided Health Coverage

Tuesday, November 23, 2010

Employer-Provided Health Coverage — Not Taxable; Reporting Requirement Optional in 2011
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. However, to provide employers the time they need to make changes to their payroll systems or procedures in preparation for compliance with this requirement, the IRS will defer the reporting requirement for 2011, making that reporting by employers optional in 2011.
The revised Form W-2 for 2011 is now available in draft for viewing. This is the W-2 that most employees will receive in early 2012. The draft form includes the codes that employers may use to report the cost of coverage under an employer-sponsored group health plan. ..

 
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New Employer W-2 Form

Wednesday, September 22, 2010
Beginning in tax year 2011, the PPACA requires employers to report the value of the health care benefits they provide to 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. 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.

This new reporting requirement applies for employees’ tax years beginning after December 31, 2010. Because employees are entitled to request their Form W-2 early if they terminate employment during the year, payroll systems need to be updated for this change by January 2011. .. 
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