It does not include coverage for long-term care, accident or disability insurance, workers compensation, automobile medical payment insurance, amounts contributed to Archer medical spending accounts, health savings accounts, or salary deductions for health flexible-spending arrangements.
Despite the reporting requirement for current employees, an employer is not required to issue a W-2 solely to report the value of healthcare coverage for retirees or other employees who normally would not receive a W-2.Employees may receive a Form W-2 with an amount reported in Box 12 with Code. .Businesses; tax-exempt organizations; and federal, state, and local government entities that provide applicable employer-sponsored coverage under a group health plan are subject to this reporting requirement.What is Being Reported on Form W-2 Box 12 Code DD?The reporting requirement was enacted as part of the Affordable Care Act to provide information about the cost of employees healthcare coverage.But fear notthis amount is simply the total cost of the employees health insurance coverage paid office 2010 professional plus trial by both the employee and the employer, and it is not taxable.Applicable employer-sponsored coverage includes any employer-offered group health plan which is excluded from the employees gross income under Internal Revenue Code 106.If you have questions about Form W-2 or reporting requirements, or need some assistance ensuring your company is in compliance, contact one of our executives below, (800) 270-9629.
If you have this code on your W-2.The following list explains the codes shown in W-2 (.W2 ) Box.If Box 12 on your W-2.For example, if you are only required to report code.D in box 12, you can enter code.D and the amount in box 12a of Form W-2.Report in box 12 any.There are several types of compensation and benefits that can be reported.'1' gets about three times what '5' does.