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Viral Email: "Now your insurance is INCOME on your W2's"

July 15, 2010 4:58 pm ET

The following email has been widely forwarded. Media Matters Action Network has written a response to the text below. Please feel free to copy and paste it and send it to your friends.

"Now your insurance is INCOME on your W2's"

[note - all mistakes below are original to the text]

RESPONSE

Thanks for sending this to me.

I looked into this a bit, because it seems like such a terrible idea for the government to tax our insurance benefits. Here's what I found out:

The value of health insurance your employer gives you will be on your W-2s, but it will NOT be taxed- it's so they can gather information on health care costs around the country.

Notice that whoever wrote this didn't include a link to the Kiplinger's article she talks about! That article (read it here: http://www.kiplinger.com/businessresource/forecast/archive/health-care-reform-tax-hikes-on-the-way.html ) says right in point number 3: "The amount reported is not considered taxable income."

Just to be sure, I did some extra digging around on two of my favorite sites for stuff like this: Snopes.com and FactCheck.org. They both say this just isn't true.

Snopes says that insurance companies- not the little guys - will start paying a tax on "Cadillac plans" starting in 2018 - not next year - and that it won't affect any plan worth less than $27,000 per year. And even then, it's the insurer that pays the tax. Check out Snopes' whole article here: http://www.snopes.com/politics/taxes/HR3590.asp

FactCheck.org comes right out and says it: "Here's another one to add to the list of false claims about the new health care law." Apparently it was actually John McCain's idea to tax health insurance! And under the Health Care Reform bill that passed this year, your insurance "will continue to be untaxed, just as in the past."

Who sent you this? You should forward this along to everybody else who got this email, because it's clearly not true!

I hope you're well.



 


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