IRS Releases Updated PCORI Fee Rates

On October 31, 2023

The Internal Revenue Service (IRS) has released the amount of the 2023 plan year Patient-Centered Outcomes Research Institute (PCORI) fee, which must be paid by group health insurance plan sponsors and health insurance issuers by July 31, 2024. The fee rate for plan years ending in 2023 are as follows: The PCORI fee was established […]

HHS RELEASES NEW FINE STRUCTURES

On October 30, 2023

The federal Department of Health and Human Services recently released new inflation-adjusted penalty amounts for various federal requirements that impact employers who offer group health insurance coverage and health insurance issuers. The new fine levels relate to compliance with the Health Insurance Portability and Accountability Act’s (HIPAA) privacy and data security requirements, various Affordable Care […]

IRS LOWERS ELECTRONIC FILING THRESHOLD FOR 2023 ACA REPORTING

On October 16, 2023

The Internal Revenue Service IRS issued updated instructions for preparing and submitting ACA health insurance coverage and employer reporting Forms 1094 and 1095 B and 1094 and 1095 C. In previous years, entities filing 250 or more 1095 forms were required to file electronically. Now, entities filing 10 or more of these forms will need to send them into the […]