This is from the New York Times: “As workers open their W-2 forms this month, many will see a new box with information on the total cost of employer-sponsored health insurance coverage. To some, it will be a surprise, perhaps even a shock. Workers often have little idea how much they and their employers are paying for coverage. In many cases, economists say, workers give up cash compensation to get and keep health benefits.”
You know, I suspect one of the reasons for this, ’cause your W2 is now gonna have on it the cost of your health insurance that your employer is providing. I think one of the reasons for this is to help convince employees that their employer-provided health insurance is not such a good deal after all. That would be my guess. There’s a reason why the regime is doing this. There’s a reason the regime wants you to see right in front of you, on your W2, what your health insurance is costing. And there’s another reason for this. That is not counted as income, yet. That’s totally tax-free. That’s earnings to you. That’s income. Just doesn’t come as salary, comes in a benefit, but it isn’t taxed. I think this is a prelude for that.
Here’s how that’s gonna work. On your W2, if you look at it, you’re gonna have this box and it’s gonna have the amount of your health care coverage. Your employer is required to put that on there. You’re gonna see it. One of two things is gonna happen. You’re either gonna say, “My God, this guy is not paying anything on me.” Or, you’re gonna say, “My gosh, I didn’t know how expensive this was.” The next thing that’s gonna happen is that you are being set up for being told down the line when they get to this, that that’s too much income not to be taxed. We’re gonna have to start taxing these benefits. We’re gonna have to tax it as ordinary income, and this is a setup. This is the prelude, the slow walk to that objective.