The Patient Centered Outcomes Research Institute (PCORI) fees, which are part of the Affordable Care Act (ACA) are due July 31. If you have a fully-insured health plan your insurance carriers will file the fee automatically. However, for self funded plans, including employer-sponsored Health Reimbursement Arrangements (HRAs), employers are responsible for making the payment and filing the IRS form 720. Fees for plan years that ended in 2016 are due July 31, 2017.
How to Pay PCORI Fees:
Hollister will prepare the Form 720 for employers who ask. However, some employers will do it on their own or obtain it through their CPAs. For plan years ending between January 1, 2016 and September 30, 2016, the fee for an employer sponsoring an applicable self-insured plan is $2.17 multiplied by the average number of lives covered under the plan (including dependents). For plan years ending between October 1, 2016 and December 31, 2016, the fee is $2.26 multiplied by the average number of lives covered under the plan.
For additional information, please contact us or visit our HR support site (HR360).
Matt Hollister, L.I.A., M.P.H.