[mtmtnman]

In updating Quickbooks i see this. The Internal Revenue Service has issued an interim guidance to employers on informational reporting on each employee's annual Form W-2 of the cost of the health insurance coverage they sponsor for employees. The IRS is also requesting comments on this interim guidance. The IRS emphasized that this new reporting to employees is for their information only, to inform them of the cost of their health coverage, and does not cause excludable employer-provided health coverage to become taxable; employer-provided health coverage continues to be excludable from an employee's income, and is not taxable. (Remember the word interim above???)
The Affordable Care Act provides that employers are required to report the cost of employer-provided health care coverage on the Form W-2. Notice 2010-69, issued last fall, made this requirement optional for all employers for the 2011 Forms W-2 (generally furnished to employees in January 2012). In today's guidance, the IRS provided further relief for smaller employers (those filing fewer than 250 W-2 forms) by making this requirement optional for them at least for 2012 (i.e., for 2012 Forms W-2 that generally would be furnished to employees in January 2013) and continuing this optional treatment for smaller employers until further guidance is issued.

Just another foot in the door by our over reaching government. Mark my words it will end up being taxed................

 

[Leo G]

Why would they need the information if they weren't planning on taxing it.

It will be taxed, just like they put a tax on your heartbeat w Obamacare

 

[VinylHanger]

Don't get me started. This is the time of year when my wife's employer send out all those great little info notices about all the wonderful changes to our health care plan. Things like more cost and less service which they tell us allows us to become shoppers of services instead of "just" patients.

I preferred being "just" a patient. I went to my doctor, paid 20 bucks and was taken care of. Now we can't afford to even go after spending over 6,000 dollars a year on premiums. My daughter a needed prescription for an inhaler and we had to shell out 160 bucks just to get a note so we could get the inhaler.

Of course, there is a low cost clinic upstairs that cost around 50 bucks, but since we have insurance, we aren't allowed to use it.

Like I said... Don't get me started.

 

[mtmtnman]

Problem with health care in general is way to many people abuse it. I have major medical with an HSA. I pay the 1st 5K before the MM kicks in. I am more likely to take better care of myself and less likely to go to the doc for every sniffle and sneeze because i have a stake in the game as i have to shell out $$$$ With most low deductible plans it's easy to shell out 20 bucks and let the ins. co pick up the rest. For 4 of us on the wife school plan i shell out around 5K a year plus whatever i put in the HSA. The school puts out about 8k towards our plan........

 

[FremontREO]

I can't wait to pay....money is just flowing out the door. OH wait--I don't want to pay 1 penny till the money is flowing IN the door.

 

[VinylHanger]

Problem with health care in general is way to many people abuse it. I have major medical with an HSA. I pay the 1st 5K before the MM kicks in. I am more likely to take better care of myself and less likely to go to the doc for every sniffle and sneeze because i have a stake in the game as i have to shell out $$$$ With most low deductible plans it's easy to shell out 20 bucks and let the ins. co pick up the rest. For 4 of us on the wife school plan i shell out around 5K a year plus whatever i put in the HSA. The school puts out about 8k towards our plan........

Thing is, why do I or the government give a hoot about how much my insurance company pays. If my insurance company had a problem with me abusing them, they could deal with me as an individual. Not that we ever did. The problem is that this new situation is designed to help the big insurance companies and hospitals make more money.

If I can't go to the doctor and use my insurance because I have to pay 5,000 bucks before it kicks in, in addition to the 6,000 we already pay for our premium, it saves them money. Since I can't afford to go to the clinic if I get hurt, I go to the emergency room. Then the insurance company pays triple the cost of a doctors visit, but that money goes to the hospitals who are needing more money as well. Win-win for everyone but the private insured who ends up getting hosed to deal with a government health care system they have nothing to do with.

 

[BamaPPC]

I heard a rumor but could never confirm it. Maybe someone else has head this.
I heard this new ObamaCare was going to require all employers to provide health care to it's employees, no matter how small an employer you are.

Anyone else hear anything like this?

 

[VinylHanger]

I'm getting ready to hire a guy on this week. The day that goes into effect will be his last day on the job. I've heard rumors, but nothing for real. That would be great. I have just enough work to work a guy 30-35 hours a week, add in the cost of healthcare and I would prefer turning down work to paying for his healthcare... And I like the guy.

 

[carolinahandyma]

Problem with health care in general is way to many people abuse it. I have major medical with an HSA. I pay the 1st 5K before the MM kicks in. I am more likely to take better care of myself and less likely to go to the doc for every sniffle and sneeze because i have a stake in the game as i have to shell out $$$$ With most low deductible plans it's easy to shell out 20 bucks and let the ins. co pick up the rest. For 4 of us on the wife school plan i shell out around 5K a year plus whatever i put in the HSA. The school puts out about 8k towards our plan........

I know others on high deductible HSA plans such as yours and would agree that most people on those plans are far more conservative when it comes to running in to see a doctor.


The problems with healthcare in the US will never come close to being resolved until the financial incentives are realigned for healthcare providers and insurers. When the incentives are more in-line with actual results. Using some evidence-based medicine that actually helps keep people healthy would be a good start. Our current, fee-based model of incentives has little to do with keeping people healthy.

Unfortunately, there are too many people profiting from healthcare for this to change and neither the Democrats nor Republicans have a plan to change this.

 

[BPWY]

I'm getting ready to hire a guy on this week. The day that goes into effect will be his last day on the job. I've heard rumors, but nothing for real. That would be great. I have just enough work to work a guy 30-35 hours a week, add in the cost of healthcare and I would prefer turning down work to paying for his healthcare... And I like the guy.

If that guy ends up being any good and a go getter push him towards being your sub.
He'll have to get tools and a truck etc.

 

[DreamWeaver]

I'm getting ready to hire a guy on this week. The day that goes into effect will be his last day on the job. I've heard rumors, but nothing for real. That would be great. I have just enough work to work a guy 30-35 hours a week, add in the cost of healthcare and I would prefer turning down work to paying for his healthcare... And I like the guy.

Spot on, talking about a job killer.

What I have wanted to see and have never saw, is some small business man or woman, at one of Obama's healthcare rallies get access to the mic for a question, then hold up a picture of their employees and ask Obama, "Which employees he wants them to fire?", since he's making financial decisions for the company he should provide this imput. When he gives his best Elmer Fudd impersonation, no offense towards Elmer, with his studdering, they would then explain, that unlike politicians and the government in general, when business expenses go up and revenues don't, somebody is walking the line or everybody will be unemployed.

I would absoutely love to be able to ask the babbling idiot this on National T.V. in prime time.

But somehow, I suspect that I will never be one of "The Chosen One's!".

 

[thanohano44]

Spot on, talking about a job killer.

What I have wanted to see and have never saw, is some small business man or woman, at one of Obama's healthcare rallies get access to the mic for a question, then hold up a picture of their employees and ask Obama, "Which employees he wants them to fire?", since he's making financial decisions for the company he should provide this imput. When he gives his best Elmer Fudd impersonation, no offense towards Elmer, with his studdering, they would then explain, that unlike politicians and the government in general, when business expenses go up and revenues don't, somebody is walking the line or everybody will be unemployed.

I would absoutely love to be able to ask the babbling idiot this on National T.V. in prime time.

But somehow, I suspect that I will never be one of "The Chosen One's!".

Amen dream weaver