Benefits Buzz

2015 PCORI and Reinsurance Fees

Posted on October 30th, 2015

PCORI Fees

The Internal Revenue Service (IRS) released Notice 2015-60 on October 9, 2015.  The notice includes information on the payable amounts that are due for the Patient-Centered Outcomes Research Institute fees (PCORI fees). The fee will increase from $2.08 to $2.17 per covered life for plan years ending on or after October 1, 2015 and before October 1, 2016. The next round of PCORI fees will be due by July 31, 2016 for plan years ending in 2015. The payment schedule will be as follows:
 
  • Plan years ending between 1/1/15 and 9/30/15 will pay a fee of $2.08 per covered life.
  • Plan years ending between 10/1/15 and 12/31/15 will pay a fee of $2.17 per covered life.  
 

Reinsurance Fees

The Department of Health and Human Services (HHS) recently announced that the form for submitting the 2015 annual enrollment count and making payments for the transitional reinsurance program (a.k.a. reinsurance fees) is now available. Per the announcement, contributing entities, which are usually health insurance companies or employers with self-insured medical plans, must submit the 2015 form and schedule their reinsurance contribution payments by November 16, 2015. The contribution amount required for 2015 is $44 per covered life.
 
The payment is due no later than January 15, 2016 if making a single payment. However, the payment can be made in two parts.  If the contribution is paid in two parts, an initial payment of $33 per covered life is due by January 15, 2016.  A second payment of $11 per covered life will be due by November 15, 2016. Payments must be made online through the website www.pay.gov.
 
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The materials contained within this communication are provided for informational purposes only and do not constitute legal or tax advice. 
 

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