W-2 forms must now report the employer's cost and employee's contribution into company health plans as part of the federal healthcare law.
The benefits are still tax-free, though some worry reporting the data makes them more vulnerable to taxes in the future. Each year, the exemption — the largest in the tax code — costs the federal government an estimated $180 billion in lost tax revenue, according to a report by the New York Times.
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Senate Hearing Diagnoses Primary Care Access Crisis
The benefits are still tax-free, though some worry reporting the data makes them more vulnerable to taxes in the future. Each year, the exemption — the largest in the tax code — costs the federal government an estimated $180 billion in lost tax revenue, according to a report by the New York Times.
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