New regulations have been issued under the Patient Protection and Affordable Care Act (“PPACA”) implementing annual fees and reporting requirements on self-insured health plans and indirectly on fully insured plans. The Internal Revenue Service (“IRS”) has finalized regulations on annual fees imposed on sponsors of self-insured plans and issuers of health insurance policies to fund the Patient-Centered Outcomes Research Trust Fund. The fee for 2013 is $1 per covered life, which must be reported and paid by July 31, 2013 for calendar-year plans. The Department of Health and Human Services (“HHS”) has issued proposed regulations that would impose additional fees on self-insured plans and health insurance issuers to fund the Transitional Reinsurance Program. HHS estimates that the initial annual contribution rate, for 2014, will be $63 per covered life.
PPACA established the Patient-Centered Outcomes Research Institute (“PCORI”) to synthesize and disseminate research relating to the comparative clinical effectiveness of various medical treatments. PCORI is to be funded in part by fees (“PCORI fees”) assessed on sponsors of self-insured health plans and issuers of health insurance policies.
Please see full alert below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
Topics: Affordable Care Act, CHIP, Form 720, HHS, HRA, HSA, Medicaid, Medicare, PCORI, Reporting Requirements, Self-Insured Health Plans, Transitional Reinsurance Program
Published In: Administrative Agency Updates, Health Updates, Insurance Updates, Labor & Employment Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Pillsbury Winthrop Shaw Pittman LLP | Attorney Advertising