The Essentials of Taxing and Reporting Insurance Benefits for 2023

Event: Live Webinar
Event Date: October 5, 2023
Presenter: Vicki M. Lambert
Event Time: 12 PM EST
Duration:90 Minutes


Although 2012 was the first-time payroll had to report the value of health insurance benefits on the Form W-2 under the Affordable Care Act, it is not the first time an insurance benefit has had to be reported by payroll. In recent years payroll has been required to determine taxation and reporting requirements for health insurance programs such as HSAs, HRAs and MSAs. Since the 1980’s payroll has had to determine the taxation and reporting of group term life insurance as well. But insurance benefits are not limited to just health or group life. Many companies offer executives other types of life insurance, how does payroll handle those benefits? What about third-party sick pay? Which amounts are taxable and reportable or just reportable? Who is responsible for the Form W-2 for 2023 when third party sick pay payments are included?

This webinar covers the basics of handling insurances in the payroll department including reviewing the requirements under the ACA for the 2023 reporting of health insurance. We will examine how to handle other types of health insurance plans such as HSAs or HRAs. We will discuss taxing and reporting life insurance, from simple group term life insurance to whole or split life insurance. We will cover the basics of third-party sick pay to ensure that it is properly reported for this year. And finally, we will briefly examine the role payroll plays in workers’ compensation pay-outs and premium payments. This is an excellent basic training webinar for those new to payroll and an excellent refresher program for the seasoned professional.

Learning Objectives:

  • Review calculating and reporting health insurance benefits for 2023
  • Discuss how to deal with the complexities of third-party sick pay taxation and reporting
  • Determine how to calculate, tax and report group term life insurance
  • Examine the basics of taxing and reporting whole and split life insurance
  • Cover handling the alphabet soup of health insurance including HSAs, HRAs and MSAs
  • Touch upon the essentials of workers’ compensation for payroll

Who Should Attend:

  • Payroll Executives/Managers/Administrators/Professionals/Practitioners/Entry Level Personnel
  • Human Resources Executives/Managers/Administrators
  • Accounting Personnel
  • Business Owners/Executive Officers/Operations and Departmental Managers
  • Lawmakers
  • Attorneys/Legal Professionals
  • Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues

Vicki M. Lambert

Vicki M. Lambert, CPP, is President and Academic Director of The Payroll Advisor™, a firm specializing in payroll education and training. The company’s website offers a payroll news service which keeps payroll professionals up-to-date on the latest rules and regulations. With nearly 40 years of hands-on experience in all facets of payroll functions as well as over three decades as a trainer and author, Ms. Lambert has become the most sought-after and respected voice in the practice and management of payroll issues. She has conducted open market training seminars on payroll issues across the United States that have been attended by executives and professionals from some of the most prestigious firms in business today. A pioneer in electronic and online education, Ms. Lambert produces and presents payroll related audio seminars, webinars and webcasts for clients, APA chapters and business groups throughout the country. Ms. Lambert is an adjunct faculty member at Brandman University in Southern California and is the instructor for the American Payroll Association’s “PayTrain” online program offered by Brandman University.