W-2s Now Report Health Benefits

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.

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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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