How To Report Employee Health Coverage In QuickBooks Online

Last Updated on January 16, 2021 by Editorial Team

QuickBooks employer-sponsored health coverage is health insurance which is achieved by an employer for showing it on the W-2 Form. It even includes insurance for the current employees and their families as well as for the retired employees. Here, health coverage reporting contains the Affordable Care Act (ACA). In the ACA, you have to maintain a basic level of health insurance. So, if you are not having that level of coverage then you may need to subject the tax penalties.

So, here in this article, we are going to discuss how to report employee health coverage in QuickBooks Online or in Intuit Online for avoiding the tax penalty.  

Procedure to Report Health Coverage In W2 forms

You should have knowledge before following the steps to report health coverage in W2 forms in Intuit Online Payroll Enhanced are:

  • You can able to watch 50 employees appear per page. Then you need to click on the save and the next option to go on the next page.
  • After then, the total amount which is being entered is the mixed total of both the employee and the employer allocates.
  • But if you are do not require to report the health coverage for an employee, then you have to leave that field blank.
  • Now, if you require to remove a previously saved dollar amount then:
    • First, you require to enter 0 (zero).
    • Then, you have to click on the save and the next option. Here, the box 12 code draft that is DD will be completely removed automatically from the employee W2 form.

Steps To Report Health Coverage by Intuit Online Payroll Enhanced

For reporting health coverage in W2 forms by Intuit Online Payroll you need to follow the steps discussed below:

  • First, you have to select taxes and forms and then select taxes.
  • After this step, you need to select the annual forms.
  • Now, select the W2 forms, and also you need to take the copies of B, C, and 2.
  • Then on the copyable employee copies on the W2 form page, and you need to click on the health analysis link.
  • In this step, suppose if this will be the first time that you have visited this page at that time you can click on go here.
  • But if you want to make any of the changes then you have to click on the need to update your health coverage amount in box 12.
  • At last, you have to enter the dollar amount for each of the employees by which they can able to appear on the form W2 and box 12 code draft.

Steps To Report Health Coverage by Intuit QuickBooks Online Payroll Enhanced

If you want to enter the report of health coverage in W2 forms by Intuit QuickBooks Online Payroll Enhanced, then you have to follow the same steps of Intuit Online Payroll Enhanced which are already discussed above.

But if you are using the Intuit Full Service Online Payroll or QuickBooks Online Full Service Payroll, then at that time you have to contact the QuickBooks team to get your health coverage report to be entered into your account.

Requirements for Reporting the W2 Forms and Box 12 (Draft DD)

Suppose you require to report or choose to report, then you have to report the total cost of all the advisable employer-sponsored analysis. It can also be defined as the coverage under a group health plan that the employer makes available to the employee which will be non-taxable to the employee and it can be also non-taxable if the coverage will be provided by the employers. 

But if you want to include more information like:

  • Report on major medical.
  • A flexible Spending Account is a health flexible spending arrangement for an only company-paid portion.
  • Here hospital indemnity means a pre-tax employer or the employees who require to pay.
  • Employee Assistance Program if it carries COBRA (Consolidated Omnibus Budget Reconciliation Act).
  • Dawning medical clinic coverage will include in COBRA.
  • Wellness programs include COBRA.
  • At last, it also includes domestic partner coverage.

Here, it includes the type of coverage that is especially blocked by the ACT, and also the IRS is the Internal Revenue Service. There are also other types of coverage that are optional to report in the health coverage in W2 forms.

How to Gather Employee Information

Suppose if you have started with your Intuit Online Payroll by adding and editing the deduction and contribution report for the current tax year. Then this will be along with both employer and employee contributions for the different group plans.

However, it is no doubt doesn’t include everything that required to be reported. But you may require to get statements or reports for the group plans.

At last, you compulsory have to learn and should know details about all the reports of the IRS form W2 reporting of employer-sponsored health coverage by the Intuit website so that you should be known that you have to enter all the details correctly which are asked to you.

Last Words

We hope that this article is helpful to you in solving your issues. In this article, we have discussed the report of employer-sponsored health coverage in Intuit Online Payroll Enhanced and Intuit QuickBooks Online Payroll Enhanced. If in case you are facing any issue while reporting the employee health coverage then you can contact QuickBooks ProAdvisor and can get the best solutions and get rid of your problems easily.

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