Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
1000% Increase In Retiree Health Care Cost?!?!?!?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="TechGrrl" data-source="post: 1087337" data-attributes="member: 4932"><p><strong><span style="color: #b22222">I found this on IRS.Gov:</span></strong></p><p><strong></strong></p><p><strong>"Reporting Employer Provided Health Coverage in Form W-2</strong></p><p></p><p> The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan on an employee’s Form W-2, Wage and Tax Statement, in Box 12, using Code DD. Many employers are eligible for transition relief for tax-year 2012 and beyond, until the IRS issues final guidance for this reporting requirement.</p><p> The amount reported does not affect tax liability, as the value of the employer excludible contribution to health coverage continues to be excludible from an employee's income, and it is not taxable. This reporting is for informational purposes only, to show employees the value of their health care benefits so they can be more informed consumers.</p><p> More information about the reporting can be found on <a href="http://www.irs.gov/uac/Form-W-2-Reporting-of-Employer-Sponsored-Health-Coverage" target="_blank">Form W-2 Reporting of Employer-Sponsored Health Coverage</a>."</p><p><span style="color: #b22222"></span></p><p><span style="color: #b22222"><strong>So, have you guys seen your W-2 yet? If so, what is in Box 12, Code DD? Should be an eye-opener....</strong></span></p></blockquote><p></p>
[QUOTE="TechGrrl, post: 1087337, member: 4932"] [B][COLOR=#b22222]I found this on IRS.Gov:[/COLOR] "Reporting Employer Provided Health Coverage in Form W-2[/B] The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan on an employee’s Form W-2, Wage and Tax Statement, in Box 12, using Code DD. Many employers are eligible for transition relief for tax-year 2012 and beyond, until the IRS issues final guidance for this reporting requirement. The amount reported does not affect tax liability, as the value of the employer excludible contribution to health coverage continues to be excludible from an employee's income, and it is not taxable. This reporting is for informational purposes only, to show employees the value of their health care benefits so they can be more informed consumers. More information about the reporting can be found on [URL="http://www.irs.gov/uac/Form-W-2-Reporting-of-Employer-Sponsored-Health-Coverage"]Form W-2 Reporting of Employer-Sponsored Health Coverage[/URL]." [COLOR=#b22222] [B]So, have you guys seen your W-2 yet? If so, what is in Box 12, Code DD? Should be an eye-opener....[/B][/COLOR] [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
1000% Increase In Retiree Health Care Cost?!?!?!?
Top