What constitutes the total value of the employer premium that must be reported on the Form W-2?
To report the aggregate cost of employer-sponsored health coverage on employees’ W-2s, the Form W-2 must include the combined cost of the employer-sponsored health coverage taking into account both the amount the employer pays and the amount the employee pays. The value will then be determined under rules similar to COBRA. The cost of coverage under all applicable employer-sponsored coverage must be included in the aggregate reportable cost.
Related Questions
- Will the cost of the insurance premium we pay for an employee (currently 100%) and report on the Form W-2 be subject to federal, state, or local tax for the employer and employee?
- If a small employer doesn offer group health insurance but pays accident insurance, does that premium need to be reported on the Form W-2?
- When Does the Form W-2 insurance premium reporting begin?
