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5500 Preparer's Manual for 2012 Plan Years
The premier resource in the field of Form 5500 preparation, 5500 Preparer's Manual will help you handle the required annual Form 5500 filings for both pension benefits and welfare benefit plans.
from Spencer’s Benefits Reports: In Notice 2011-35, the Internal Revenue Service requests public comments on the implementation of provisions of the Patient Protection and Affordable Care Act (ACA) to fund comparative clinical effectiveness research relating to patient-centered outcomes.
The ACA includes provisions that promote research to evaluate and compare health outcomes and the clinical effectiveness, risks, and benefits of medical treatments, services, procedures, drugs, and other strategies or items that treat, manage, diagnose, or prevent illness or injury. To assist patients, medical providers, purchasers, and policymakers in making informed health decisions by advancing comparative clinical effectiveness research, the ACA established the Patient-Centered Outcomes Research Institute (Institute). The Institute will be a nonprofit entity independent of the federal government and will be funded by a Patient-Centered Outcomes Research Trust Fund, which will be partially funded by fees paid by health insurers and sponsors of self-insured health plans.
The fees are effective for policy and plan years ending after Sept. 30, 2012. The first plan year to which the fee on an applicable self-insured health plan applies would be a plan year that ends on Oct. 1, 2012. The fee does not apply to plan years ending after Sept. 30, 2019. Accordingly, if the policy year were the calendar year, the fee would apply to calendar policy years 2012 through 2018. The fee, to be paid by the plan sponsor, is $2 ($1 for plan years ending before Oct. 1, 2013) multiplied by the average number of livescovered under the plan.
The IRS intends to publish proposed regulations implementing and providing guidance on the statutory requirements applicable to insurers and plan sponsors that pay those fees. Notice 2011-35 invites comments on how the fees should be determined and paid, including comments on several possible rules, safe harbors, issues, and potential guidance.
Comments should be submitted by September 6, electronically to Notice.Comments@irscounsel.treas.gov (include “Notice 2011-35” in the subject line) or by regular mail to CC:PA:LPD:PR (Notice 2011-35), Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044.
For more information, contact Rebecca L. Baxter of the Office of Associate Chief Counsel at (202) 622-7117.
For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.
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