ACA Reporting
ACA Compliance Lessons Learned From Recent Reporting Seasons
Common themes emerge when reflecting on recent ACA reporting seasons that can help employers reduce administrative burdens and improve accuracy.
Employers
Question of the Week - Box 12 of Form W-2
Q.- Our payroll company completed our W-2 Forms and sent them to our employees. An employee asked me what the number in Box 12 was. What should I tell him?
Q.- Our payroll company completed our W-2 Forms and sent them to our employees. An employee asked me what the number inBox 12 was. What should I tell him?
A.- An employer that files 250 or moreForms W-2 in the preceding calendar year must report the cost of health coverage in Box 12 of Form W-2. The number in this box represents both the employee and the employer contributions for coverage. The employee does not need to take any action with this number. It is informational, only.
Benefit Allocation Systems (BAS) provides online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 integrates with major insurance carriers for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and others), and with leading payroll platforms for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and others).
This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.
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