Updates for Faculty & Staff

HR Notice: Medical Cost on W-2

Jan 25 2013

Due to the Affordable Care Act, NYIT is required to provide the cost of health care coverage on Form W-2 for 2012. Please note that this information will be reported on your W-2 for information purposes only—the cost of health insurance is not included in your income and is not taxable. The amount reported on Form W-2 must include the amount paid by both the employee and the employer. If you opt out of the medical plan and receive a waiver bonus, the waiver bonus payments are included in your income on Form W-2 and not included in the health cost data.

Page 1 of 1