PCORI Fees Due by July 31, 2018
The ACA imposes a fee on health insurance issuers and plan sponsors of self-insured health plans to help fund the Patient-Centered Outcomes Research Institute. The fee, called the Patient-Centered Outcomes Research Institute (PCORI) fee, is calculated based on the average number of lives covered under the policy or plan. This fee applies to clients with an HRA, whether they are fully insured or self-insured.
PCORI fees are reported and paid annually using IRS Form 720. These fees are due each year by July 31 of the year following the last day of the plan year. This means that, for plan years ending in 2017, the PCORI fees are due by July 31, 2018.
For more information and instructions on how to file PCORI fees please visit the IRS website. As always, your Towne Benefits team is here to assist should you have any questions regarding PCORI fees but we also recommend consulting your tax advisor.
Filed Under: Benefits Briefs