Health Care Reform Alert: How to Report on Upcoming W-2s

w2 posting1

The Patient Protection and Affordable Care Act of 2010 has been confusing for most of us since its inception. Not only are there confusing requirements and multiple deadlines, but requirements seem to be a moving target. Originally, The Patient Protection and Affordable Care Act of 2010 (PPACA) amended the Internal Revenue Code to require, beginning Jan. 1, 2011, that employers report the aggregate cost of “applicable employer-sponsored coverage” on Forms W-2 issued to employees. However, on Oct. 12, 2010, the Internal Revenue Service (IRS) announced that employers will not be required to report the cost of employer-sponsored group health coverage on Forms W-2 issued for 2011. Notice 2010-69 advises that the Form W-2 reporting requirement is not mandatory for Forms W-2 issued for 2011. The IRS explained that the “Treasury Department and the IRS have determined that this … [Read more...]

Health or Health Care?

As President Obama completes his first 6 months in office, healthcare continues to be a major issue and source of great debate in this country.  The problem is complex:  millions of American workers and their families are uninsured or underinsured due to double-digit increases in healthcare costs, creating a phenomenon where healthcare costs are rising faster than wages. On this both parties agree.  However, there is a great difference in opinion as to how to solve this healthcare crisis. With such divergent views on how to tackle the problem of healthcare in this country, we are left more confused than encouraged.  Workscape, a provider of outsourced benefit services, surveyed HR managers and found that a majority believe that neither political party offers a clear-cut solution.  So the question becomes is it even possible to reform healthcare? Are we on the right track or going … [Read more...]

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