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W-2 Reporting of Healthcare Coverage Costs for Puerto Rico Employees
Carlos Gonzalez Law Office LLC 
[Guidance Overview] Apr. 24, 2024 "[E]mployers with operations in Puerto Rico must report in box 5 of the local Form W-2 the aggregate cost of their healthcare benefits to Puerto Rico employees.... [L]ocal tax laws do not provide for, or grant favorable tax treatment on, health Flexible Spending Arrangements (FSAs).... Thus, Puerto Rico employees should not be allowed to participate in FSAs ... In fact, the local tax rules require that the employee share of healthcare premiums be paid with after-tax dollars." |
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