For some workers, W2 details health costsby Elizabeth Stawicki, Minnesota Public Radio
ST. PAUL, Minn. — Workers for large employers may notice new health insurance information listed on their W2 forms this year.
Under the federal health care law, W2 forms now must include the cost of employer-sponsored health insurance. The form includes both how much the employee paid and what the employer contributes.
The new information is designed to show consumers the true cost of their health insurance, said Larry Levitt of the nonprofit Kaiser Family Foundation.
"Their employer typically pays most of the premium," Levitt said. "So what people actually see, in terms of coming out of their own pocket, is only a small piece of the total cost of health insurance."
Levitt added: "There's this idea that if people understood more about how much health insurance costs, it might change their behavior or certainly change their perspective."
The health care costs are listed on the W2 form in Box 12 using code DD.