Some surprises are nice, like getting flowers delivered to your office. During tax season, surprises are usually not a good thing.
In the coming weeks, your employees will receive their 2012 W-2s. For the first time, this form will include the average value of an employee’s health care coverage, a new disclosure requirement of the Affordable Care Act.
You already know that the value is provided for information only and will not impact an employee’s taxable income. But does your employee? If you haven’t already, you should let your team know what to expect in their W-2s. A simple reminder about the new requirement—on your website, social media channels, emails, to name a few easy-to-update channels—can help avoid any unpleasant surprises.
Take it a step further
Opportunities present themselves in many different ways. The W-2s are a perfect example.
With a little effort, you can turn the W-2 reporting requirement into an opportunity to play up the value of your benefits. And people love their benefits—it’s one of the biggest drivers in employee engagement.
Check out our tips on how to effectively communicate the W-2 requirements as part of a broader total compensation message.
