IRS Announces Relief for Employers from W-2 Reporting of Health Plan Costs

The IRS announced today, October 12, 2010, that it will defer the health insurance reporting requirement for employers, making reporting by employers optional for 2011. The Affordable Care Act requires that the aggregate cost of employer-sponsored health coverage must be reported on a Form W-2.  For this purpose, the aggregate cost is to be determined under rules similar to the …