Government, Courts and the World of Work
The Internal Revenue Service (IRS) has released guidance to employers on the requirement under the Affordable Care Act to report the “aggregate cost” of “applicable employer-sponsored health coverage” on employees’ annual W-2 Forms.
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As an employer of a self-funded plan, I am still not sure how we will determine this in time to report on the W-2′s. I am also looking for guidance on what to report, as we don’t pay actual premiums. I assume we’ll need to determine the complete cost of the plan, including administrative fees, stop loss insurance and total claims paid. However, I’m lucky if I get claims report by the end of the month, so I’m not sure how we’ll get the data we need in time to report it on the W-2.