New on W-2s: Cost of Your Health Plan
Disclosure aimed at raising awareness of costs
By Rob Quinn, Newser Staff
Posted Jan 30, 2013 3:10 AM CST
The disclosure rule applies to companies with 250 or more employees.   (Shutterstock)

(Newser) – The W-2 forms workers are receiving this month contain new information many are likely to find eye-opening: The cost of their employer-sponsored health coverage. ObamaCare requires disclosure of the information, which appears in Box 12 of the standard W-2 form, the New York Times reports. The disclosure, proposed by a bipartisan group of senators, is meant to raise awareness of health care costs, though unions fear it could make it easier to tax health benefits.

"Most people who get health insurance from their employers have no idea how much it costs," an expert on health law at the University of Kentucky says. "People are often shocked when they see the cost, $12,000 to $16,000 a year. Many Americans believe this is something they get free. But employers pay lower wages because they provide insurance."

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Showing 3 of 14 comments
Jan 31, 2013 5:38 PM CST
If taxed, wouldn't benefits become regular earnings? If so, they might have to be figured into the calculation of overtime pay, vacational pay, pension accural, and social security earnings.
Jan 30, 2013 11:49 PM CST
Truth of the matter is most of these health care costs can be avoided with a nominal fee supplemental health care policy. Supplemental specializes in cash for patients which most people aren't aware of. It costs the employer nothing it bypasses high deductibles for regular medical care and in countries like Japan which has a national health care policy and are prescient to understand the need for supplemental medical care because of the government plan it smooths out the rough edges of it with supplemental. Good points for people to study and consider it makes a huge difference in peoples lives.
Jan 30, 2013 12:28 PM CST
Unions scared of taxes? that's a first