Most of this is correct and I fully agree. However, we hurt our effectiveness, when we propagate misinformation. The final assertion is INCORRECT. While insurance cost WILL show on the W-2’s, it will not be taxed. It is a scary step in the wrong direction, but doesn’t affect current tax. By adding this misinformation, it makes it easier to dismiss all the REAL impacts in this warning - which ARE accurate.
While insurance cost WILL show on the W-2’s, it will not be taxed.
I checked this fact with my accountant who said it was correct.
If it is not, thank you for the heads up.