Reporting Costs of Health Insurance on Employee W-2s: New Requirements

Mastering the Procedures for Disclosing and Valuing Coverage Starting in 2013

Recording of a 110-minute CPE webinar with Q&A


Conducted on Thursday, December 20, 2012

Recorded event now available

or call 1-800-926-7926
Program Materials

This program qualifies for CPE and CFP continuing education credits.

This teleconference will prepare tax advisors and professionals to deal with the new federal mandate to value and report an employee's employer-sponsored health insurance on Form W-2 starting in Jan. 2013.

Description

Corporate tax and other professionals at many U.S. businesses must calculate the value of each employee's employer-sponsored health coverage and reported it on box 12D, under code DD, of their 2012 Form W-2s. Compliant W-2s must be delivered by Jan. 31, 2013, to active employees of companies not given deferral.

New rules mandated by the Patient Protection and Affordable Care Act are tricky. First, tax advisors must identify which health plans should be included in or excluded from the reporting requirement. Then, they must value health coverage, and valuation methods differ for fully insured or self-insured plans.

Advisors and employers must now learn the reporting rules and how different health insurance valuation approaches work to properly comply and anticipate challenging situations with mid-year plan anniversary dates and qualifying events making calculations even tougher.

Listen as our panelists drill into terms of the IRS rules, and the practical realities, that confront various corporate departments and outside advisors in complying with the new healthcare valuation disclosure.

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Outline

  1. Background on the health coverage reporting mandate
    1. Patient Protection and Affordable Care Act
    2. IRS Notice 2011-28, Mar. 30, 2011
      1. Transitional relief for certain small employers, and waiver for some employers with self-insured plans
  2. Identifying plans to include in the W-2 reporting requirement
    1. Fully insured and self-insured plans must be included
    2. HSAs, HRAs, healthcare FSAs, MSAs, stand-alone vision and dental plans are excluded
  3. Valuing each plan
    1. COBRA valuation calculation
      1. Aggregate cost includes employer, employee contributions
    2. Valuation methods for fully insured plans
    3. Valuation methods for self-insured plans
  4. Special situations that can affect proper calculation

Benefits

The panel will explore these and other relevant issues:

  • Plans that are and are not included in the W-2 reporting requirement.
  • Valuation methods available for fully insured and self-insured health plans, and how each works.
  • Special situations that present challenges in accurately calculating aggregate health plan costs.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Norbert Kugele
Norbert Kugele

Partner
Warner Norcross & Judd

He specializes in employee benefits, and privacy and information security law. In the employee benefits area, he works...  |  Read More

Andy Anderson
Andy Anderson

Partner
Morgan Lewis & Bockius

His practice focuses on employee benefits issues in the areas of retirement, health and welfare plans, and payroll...  |  Read More

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