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January 14, 2013

W-2s will show value of Purdue health insurance

Employees will see the value of their 2012 Purdue health care coverage reported on their 2012 W-2 forms. The Affordable Care Act requires employers to report the cost of coverage provided under an employer-sponsored group health plan. For 2012, the amount is being reported to the Internal Revenue Service for informational purposes only. 

The amount will appear in Box 12 of the form and will be identified with Code DD. It will include both the employee and Purdue portions of the premium. The amount will not match that shown on employee pay statements because the employer-paid portion on the pay statements is the University's budgeted health care contribution per employee, instead of the reported value, which is based on the employee's plan and coverage selection.

Purdue will send W-2s prior to Jan. 31. Employers are not required to report the value of health care coverage for retirees or others for whom the employer does not provide a Form W-2.

For questions, contact Payroll Services at tax@purdue.edu or 49-40521.