The IRS has increased the 2016 PCOR fee to $2.17, up $0.09 from the 2015 fee of $2.08.
As a reminder, non-excepted group health plans are required to pay the PCOR fee for plan years ending on or after October 1, 2012 and before October 1, 2019. The fee generally applies to Health Reimbursement Arrangements (HRAs ) because they are considered group health plans. Flexible Spending Accounts (FSAs) are exempt from paying the fee as long as they are considered an excepted benefit.
The fees must be filed by July 31 in the year after the plan year has ended. IRS Form 720 should be used to report and pay the fees.
For more information on the PCOR fees, please visit our website.