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Employee Benefits

EMPLOYEE BENEFITS

Healthcare Reform: PCORI fees due 7/31/2016

Posted by Mick Rodgers

The Axial Benefits compliance team keeps you in the know with the latest ACA updates.

PCORI Fee: The PCORI fee due date is quickly approaching.

  • Self-funded plans need to make sure to have this completed by July 31.
  • Carriers pay this fee on behalf of fully-insured plans.

Patient-Centered Outcomes Research Institute Fees (PCORI Fees)

The Affordable Care Act (ACA) created the Patient-Centered Outcomes Research Institute to help patients, clinicians, payers and the public make informed health decisions by advancing comparative effectiveness research. The Institute’s research is funded, in part, by fees paid by health insurance issuers and sponsors of self-insured health plans. These fees are widely known as Patient-Centered Outcomes Research Institute fees (PCORI fees), although they may also be called PCOR fees or comparative effectiveness research (CER) fees. On Dec. 5, 2012, the Internal Revenue Service (IRS) issued final regulations on the PCORI fees. The Form 720 and related instructions include a section where issuers and plan sponsors will report and pay the PCORI fee.

Click here to download the entire document on PCORI fee, what they ar, how to calculate them and where to get the for 720 to file.

 

 

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OurACA Employer Toolkit was recently updated to include the latest clarifications.  Download our ACA employer Toolkit for everything you need to know to stay compliant.

 

Topics: ACA updates, compliance, pcori fees due, compliance deadline, ACA fees, form 720