Issue Number: N-2023-70
Inside This Issue
Notice 2023-70 provides that the adjusted applicable dollar amount that applies for determining the Patient-Centered Outcomes Research Trust Fund (PCORTF) fee for policy years and plan years ending on or after October 1, 2023, and before October 1, 2024, is $3.22. This amount has been determined by using the percentage increase in the projected per capita amount of National Health Expenditures published by HHS in June 2023 and the adjustment, as determined by Treasury economists, for year to year variations.
Sections 4375 and 4376 impose a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund the PCORTF. The PCORTF fee is determined by multiplying the applicable dollar amount for that year by the average number of lives covered during the year. The applicable dollar amount is based on increases in the projected per capita amount of National Health Expenditures, as most recently released by HHS.
Notice 2023-70 will be published in Internal Revenue Bulletin 2023-45 on November 6, 2023.
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