Complying With The New Form W-2 Rules For Reporting Health Care Benefits

Webinar: ID# 1040140
Recorded On-Demand
About This Course:
The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan.

Reporting the cost of health care coverage on the Form W-2 does not mean that the coverage is taxable. The value of the employer's excludable contribution to health coverage continues to be excludable from an employee's income, and it is not taxable.

This reporting is for informational purposes only and will provide employees useful and comparable consumer information on the cost of their health care coverage.

This webinar will help those responsible for complying with these information reporting requirements understand when reporting is required, which forms of health care are included, and how to identify and correct errors on Form W-2.

This information is critical for employers so that they can ensure compliance with this reporting requirement and avoid penalties for failure to accurately report.What You'll Learn:The Basic Form W-2 Reporting Requirements
  • Information Returns, Generally
  • Form W-2 Generally
Reporting the Cost of Employer-Sponsored Health Coverage
  • Types of Health Care Coverage Required to Be Reported
  • Valuing the Cost of Coverage
  • Reporting FSA Amounts
  • Reporting HSA Amounts Under 6501(a)
  • Reporting QSHERA Amounts
Frequent Errors Made on Form W-2 Health Care Reporting
  • Failure to Include Health Care Coverage Value
  • Failure to Use an Approved Valuation Method
  • Failure to Exclude Coverages When Appropriate
Making Corrections on Form W-2
  • De Minimis Safe Harbor
  • 941-X
Complying With The New Form W-2 Rules For Reporting Health Care Benefits
or via On-Demand
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