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Good Neighbor Travel Insurance Blog

Employers – reporting group healthcare plan on W-2 forms

Friendly Doctor team

August 17, 2011 By : Doug Gulleson

Friendly Doctor teamGood Neighbor Insurance (dev.gninsurance.com and www.gninsurance.com) is continuing to update our clients on the new health insurance laws.   There are six major coverage options for those in the US and even though some of the rules and regulations are similar for all many differences are there and it all depends on how old you are and for whom you work.  Many critical details of this new insurance law will be clarified in the months and years to come.

These six major coverage options are:

(1) Individual or family coverage (private health care plans)

(2) Employee/employer group option for small businesses (typically under 50 employees)

(3) Employee/employer group option for large businesses (typically larger than 50 employees)

(4) Exchange options through the state you are residing in (fully integrated 1-1-2014 and are quasi-government and private insurance coverage combined)

(5) Medicare (which include Parts A, B, C, and D) for those 65 years onwards

(6) Full government health plans like Medicaid, CHIP, TRICARE, VA and other coverage plans as may be designated by the Department of Health and Human Services based mostly on financial criteria and/or military service.

Employers will be responsible for reporting to employees the total cost of their group health benefit plan coverage on their W-2 forms under the Patient Protection and Affordable Care Act. The reporting requirements are expected to apply to the 2012 W-2 forms, which is information employers must report to employees in January 2013.

This requirement is informational only and does not mean that employer-provided coverage will become taxable. Employers filing fewer than 250 W-2 forms in 2011 will not be required to report the cost of coverage on any forms furnished to employees before January 2014.

Some benefits are not subject to the W-2 requirement:

  • HIPAA “excepted benefits” plans (accident, disability income, supplemental liability, workers’ compensation insurance).
  • Stand-alone dental and vision plans.
  • Coverage under an HRA, amounts contributed to an HSA or an Archer MSA, as well as salary reduction contributions to a health FSA.
  • Coverage under a self-funded plan that is not subject to any federal continuation requirements (COBRA, PHSA continuation, FEHBP continuation), such as a group health benefit plan sponsored by a church. Coverage provided by the federal government, state government or agency of the government under a plan maintained primarily for members of the military and their families.
  • Coverage for a specific disease or illness or hospital indemnity insurance.

Doug Gulleson loves to scuba dive overseas and makes sure he has his US health care and overseas health care, dev.gninsurance.com , information with him at all times when he travels   Keep our blog close by you, www.gntravelinsurance.com, for continual updates on the changes with the US health care system.

Doug Gulleson

Search Results

Recap one year into the new health insurance law in 2010 called PPACA

April 8, 2011

Good Neighbor Insurance (dev.gninsurance.com and www.gninsurance.com) is continuing to update our clients on the new health insurance laws that were signed into law in the spring of 2010.   There are six major coverage options for those in the US and even though some of the rules and regulations are similar for all many differences are […]

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W-2 reporting requirements for employers – starting 2011

January 28, 2011

Good Neighbor Insurance (dev.gninsurance.com and www.gninsurance.com) is continuing to update our clients on the new health insurance laws.   There are six major coverage options for those in the US and even though some of the rules and regulations are similar for all many differences are there and it all depends on how old you are […]

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Valentine’s Day Trivia – 2011

February 14, 2011

There are days that we all at Good Neighbor Insurance, www.gninsurance.com, enjoy a good break from insurance and enjoy a few minutes with some great trivia.  Since it is Valentine’s Day it would make sense to grab some chocolate and do some homework for our future debut on “This is Jeopardy!”  So grab a fistful […]

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International travel sport insurance with no height restriction for mountaineering and trekking

September 5, 2012

Good Neighbor Insurance provides many travel insurance plans with sports coverage.  One of  GNI’s top travel plans is the Atlas International Travel Medical plan with sports cover. The Atlas Travel plan covers those traveling outside their country of residence and automatically has sports coverage at no extra charge to you, the policy holder.  You may […]

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PPACA Q&A – Global Citizen/Global Navigator international career health insurance

September 11, 2013

Good Neighbor Insurance brokerage firm (https://www.gninsurance.com/), out of Phoenix Arizona, is a world class leader in providing international health insurance benefits to our guests traveling and residing outside the U.S. since 1997.  In fact, our mission statement states:  Good Neighbor Insurance serves and protects travelers, expatriates and international organizations, using professional and overseas experience to […]

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Gilbert Hospital is no longer contracted with with Blue Cross of Arizona

February 18, 2014

Change is the new normal as I have been told the last couple years.  We sure agree when it comes to the new ACA – affordable care act – that has been passed in 2010.  I call the ACA “the good, the bad, and the ugly.”  Yes, there are sure some great things about the new […]

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