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(Sec. 9002) Requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer-sponsored group health coverage that is excludable from the employee's gross income (excluding the value of contributions to flexible spending arrangements).
Beginning with the 2011 tax year, employers must report the value of employer-sponsored health care coverage on employee Form W-2s. Employers will not be required to provide a specific breakdown of the various types of coverage, but must only report an aggregate cost. For example, if an employee enrolls in medical, dental, and prescription drug coverage, the employer only has to report one lump sum value, not a value for each individual benefit.
Note: This is only a reporting requirement. The employee’s gross income is not increased by the value of the employer-sponsored health care coverage. In other words, the employee is not taxed on the value of this coverage as part of his or her regular earnings.