The IRS released Notice 2018-85, which announces that the adjusted applicable dollar amount for PCORI fees for plan and policy years ending on or after Oct. 1, 2018, and before Oct. 1, 2019, is $2.45. This is a $.06 increase from the $2.39 amount in effect for plan and policy years ending on or after Oct. 1, 2017, but before Oct. 1, 2018.
PCORI fees are payable by insurers and sponsors of self-insured plans and companies offering HRAs. The fee doesn't apply to stand-alone dental and vision plans or most health FSAs.
The fee is calculated by multiplying the applicable dollar amount for the year by the average number of lives and is reported and paid on IRS Form 720 (which hasn't yet been updated to reflect the increased fee).
The PCORI fee requirement is in place until the plan years ending after Sept. 30, 2019.
Anthem has released their November Wellness Newsletter. Please take a moment to read.
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Source: HR 360, Inc.
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