THURSDAY, NOVEMBER 18, 2010
ON March 23, 2010 the Patient Protection and Affordable care act and Health Care and Educational Reconciliation Act of 2010 were signed into law.
As a result, employers will be required to report the cost of employer-paid health care on Form W-2s.
It was to go into effect in 2011, but was postponed until 2012.
So now all of us who have part or all of our health insurance premiums paid through our employer, this amount that the empoyer pays will now be part of your income.
Yea, that is the Affordable Care part.
So your benefits that you so love at your job may put you now in a higher tax bracket. Oh and you have no choice as to how to spend your income because that choice has been taken away. Not to mention that premiums will go up at least 30% in the next two years your income will be higher for tax purposes but you will not see any more take home.
Like I have said before we need reform, but not the kind the government gives. We can not afford the government choices............
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