Today’s update is about the Comparative Effectiveness Fee. The Internal Revenue Service recently released the Comparative Effectiveness Fee for the 2016/2017 plan year:
- For plan/policy years ending October 1, 2016 and before October 1, 2017 the annual fee is $2.26 multiplied by the average number of covered lives.
Please see the attached document for an overview of the requirement. Please note that EBS is sharing this information to assist you with your compliance planning. We recommend that you contact your legal counsel with specific questions relating to this law.