**BUSINESS OWNER ALERT!!**
ByNew Employer Form W-2 Reporting Requirements according to the Patient Protection and Affordable Care Act (PPAC): For taxable years beginning after December 31, 2010, Employers will be required to calculate and report the aggregate cost of applicable employer-sponsored health insurance coverage on employees’ From W-2.
Please visit http://www.benefitdevelopmentgroup.com/files/news/1278942429024038b1.pdf to review the new requirements.
Benefits Unlimited, Inc. will keep you posted on any new IRS guidance regarding the new W-2 requirements as they become available…
* PLEASE NOTE: Benefits Unlimited, Inc. considers these additional mandates associated with the PPAC to be one of the unknown and unseen residual costs that some businesses must burden. The added costs equate to making the cost of health care coverage even HIGHER through added regulatory expenses that will ultimately be paid by consumers as businesses pass these costs on through the goods and services they produce and sell. The PPAC entirely ignores the true problem, which is the cost of health care itself. The provisions purpose is to track the cost of so called “Cadillac Plans” for future determination of excise taxes of 40% to be levied in 2018. So, in essence, businesses are faced with the burden of more regulations and the cost to comply with them…only to help raise tax revenues for the Federal Government from those with these types of benefit plans. The cost of care will continue to rise, and we will also be shouldering new costs to comply with the added regulations.
Feb / 04 / 2012
Making the right moves in choosing the best solutions for your health benefits requires a plan and strategy that is proven. Like the game of chess, each move creates a different set of challenges, decisions and obstacles to overcome. One wrong move can produce unexpected results where you may find yourself in checkmate! When it comes to health benefits, you need a friend that you can trust to coach you through the game that many individuals and businesses must conquer. Call upon Benefits Unlimited, Inc to be your friend when you are ready to win the game.
