Healthcare reporting relief announced - now optional for 2011
Posted on October 15, 2010
Employers have had great interest in legislation that was committed to in 2010 requiring the employers’ portion of healthcare expense be reflected on employees’ 2011 Form W-2s. Paycor was at the ready planning to comply with this mandatory requirement. Alas, on October 12, 2010, the IRS announced it will defer the new requirement for employers to report the cost of coverage, making reporting optional in 2011.
For some of our clients who use HR Performer and others, we already track employer healthcare expenses. Please talk to your specialist should you want to get a jump on identifying costs for providing an employer-sponsored health plan through payroll sooner rather than later. We’re here to help.