Patient-Centered Outcomes Research Institute (PCORI ) Fees Due July 31, 2020
As a reminder, employers that sponsor certain self-insured health plans are responsible for Patient-Centered Outcomes Research Institute (PCORI) fees. Fees for plan years that ended between January and September 2019 are due July 31, 2021.
Under the Affordable Care Act, PCORI fees were originally scheduled to apply to policy or plan years ending on or after October 1, 2012 and before October 1, 2019. However, in December 2019, PCORI fees were extended for an additional 10 years. Consequently, the fee continues to apply for the 2020-2029 fiscal years.
How to Pay PCORI Fees
Affected employers must file IRS Form 720, Quarterly Federal Excise Tax Return. Please be advised that HRA plans are considered self-insured plans and therefore are required to pay the PCORI fees. For plan years that ended between January 1, 2019, and September 30, 2019, the fee is $2.45 multiplied by the average number of lives covered under the plan. More information on filing due dates and applicable rates from the IRS can be found HERE.