GroupGroupBuck_BondGroup

July 31 PCORI Fee Deadline Imminent

by and Tags:

Volume 40 | Issue 74

Download this FYI as a printable PDF

The deadline for paying ACA’s PCORI fee is drawing near. Sponsors of self-insured health plans should prepare to report and pay the fee by July 31, 2017.

Background

The ACA requires sponsors of self-insured health plans and health insurers to pay a fee to help fund the Patient Outcomes Research Institute (PCORI). PCORI conducts research to evaluate and compare the health outcomes and clinical effectiveness, risks and benefits of medical treatments, services, procedures and drugs.

The fee, paid to the IRS, applies to plan years (and policy years) ending after September 30, 2013 and before October 1, 2019. The amount of the fee is based on the average number of lives covered under the plan. (See our January 23, 2013 For Your Information.)

Applicable PCORI Fee Amounts

For plan years ending in 2016, the fee is due by July 31, 2017. The amount of the fee per covered life depends on when the plan year ends.

Plan Year Fee Per Covered Life
Plan years ending on or after October 1, 2016 through December 31, 2016 (including calendar year plans) $2.26
Plan years ending on or after January 1, 2016, through September. 30, 2016 $2.17

 

In Closing

Plan sponsors should use Form 720 and follow the related instructions to report and pay the PCORI fee.

 

Related insights

EEOC updates COVID-19 guidance

On September 8, the EEOC updated its guidance on COVID-19 and the ADA, Rehabilitation...

Read more

New York employers: Get ready for the state’s new paid sick leave law

On April 3, New York enacted a paid sick leave law separate from, and...

Read more

COVID-19 and the workplace: a six-month recap

As the pandemic continues, employers grapple with the ongoing impact on their workplaces and...

Read more