Health Care Reform, PCORI Fee, Taxes, Fees & Penalties

PCORI Fee will be $2.17 per Enrollee Next Year

The IRS just announced the new PCORI fee amount for plan years that end on or after October 1, 2015Here is the list of all amounts for all applicable years, plus the newly announced amount:

  •  $2.17  for plan/policy years that end on or after October 1, 2015, and before October 1, 2016
  • $2.08  for plan/policy years that end on or after October 1, 2014, and before October 1, 2015
  • $2.00 for plan/policy years ending on or after October 1, 2013 and before October 1, 2014
  • $1.00 for plan/policy years ending on or after October 1, 2012 and before October 1, 2013

The announcement can be found at IRS Notice 2015-60.

As background, Insured health plans and individual policies and self-funded health plans (both grandfathered & non-grandfathered) must pay the PCORI fee, using IRS form 720.  The fee is paid by the carrier for insured plans and policies, and by the plan sponsor for self-funded plans. The fee does not apply to certain plans including stand-alone dental and vision plans or to HFSAs that are “excepted” benefits. The PCORI fee is not a plan expense and cannot be paid from plan assets.

For more detailed information about the fee, please see prior PCORI articles on HealthReformUpdates.com.