Current W2 Premium Info Report

The Current W2 Premium Info report provides the total premiums for active coverage within a specified calendar year. The generated Excel file will list each enrolled member in a separate row. All applicable coverage for the specified calendar year will be listed in separate columns to the right of the enrolled member's name. Coverage will be listed side by side followed by a column containing the total annual cost for all applicable premiums. The ending two columns provide the total amount for Cobra coverage premiums (Cobra Amount) and the annual premium total, including any Cobra premiums (Total Yearly Premium with Cobra). 

The W2 Report will calculate the premiums for months in which a coverage change occurred based on each client's set bill date. If a change to a coverage is made prior to a client's bill date, the premium for the new coverage will be used. Conversely, if a coverage change occurred after the client's set bill date, the previous coverage rate will be used. The report will also use guidelines set by each client for Newborn billing when calculating premium totals.

The Current W2 Premium Info Report includes the following columns:

  • Demographic Information: member SSN and full names
  • Benefit Premiums: (see detailed description below)
  • Total Yearly Premiums: display each enrolled member's annual total for all applicable coverage effective within reporting year
  • Cobra Amount: each enrolled member's total premium for Cobra coverage within reporting year
  • Total Yearly Premium with Cobra: the total for all applicable premium costs that occurred within reporting year. The annual total for active coverage premiums (displayed in Total Yearly Premium Costs column) will be added to the annual total for all Cobra coverage premiums (displayed in Cobra Amount column).

Benefit Premiums

Clients will need to designate coverage that should be included in the report. When the report is generated, annual premium totals for each designated coverage will be calculated and displayed for each enrolled member. The column headers will contain the name of each coverage. If a member did not elect a designated coverage for the reporting year, the premium amount for the coverage will be listed as $0.00.

When calculating the total premium amount for the reporting year, the report will use the premium amounts for the coverage that is effective as of each month's bill date. For example, if an enrolled member changed from an Employee Only medical coverage ($150.00 monthly premium) to an Employee + Spouse coverage ($200.00 monthly premium) prior to the bill date in September, the W2 Premium Info Report would use the $200.00 premium for September's bill. Provided that the new tier of coverage remains effective for all subsequent months, the report will use the new tier's premium cost from September through December for a total of $800.00. If the prior tier of coverage was effective since the start of the year, the prior tier's premium cost ($150.00) would be used for each month's bill date up until September (January - August) for a total of $1200.00. The report will add up the totals for both premiums for the coverage's annual premium total ($2000.00). If the tier change had occurred after September's bill date, the premium for the prior tier of coverage would be used for September's bill date and the total premium for the prior tier would be $1350.00 (January - September) and the total premium coverage for the new tier of coverage would be $600.00 (October-December).The total annual premium for the coverage would be $1950.00.

Premium costs for elected Cobra coverage will not be included when calculating the amounts for the Benefit premium columns.

Applicable coverage for the W2 Report is specified when the report is set up. Generated W2 reports will only include premiums for specified coverage.

If no members elected a coverage that was set up to be included in the W2 report, the report will not include a column for that coverage.

To run this report expand the ACA & Tax Reports category and select Current W2 Premium Info report.
Enter appropriate Start and End Date, and Run.
Open report by selecting the Download icon.