Byon July 23, 2019
With PCORI fees due just around the corner on July 31st, we’ve had a number of clients asking questions about the fee, who is required to pay, how to calculate and which health plans/years to include. The Affordable Care Act’s (ACA) Patient Centered Outcomes Research Institute (PCORI) fee, created in 2012 and imposed on certain health issuers and self-funded plan sponsors, was created and imposed to fund the nonprofit research institute set up by the ACA for the purpose of assisting patients, clinicians, purchasers and policy-makers in making informed health decisions through the comparative research findings reported by PCORI. The fee, required to be reported only once a year on the second quarter Form 720 (Quarterly Federal Excise Tax Return form but only filed annually) and paid by its due date, July 31st, is based on the average number of lives covered under the policy or plan. To access the Form 720 and learn more, read attached compliance update from our partners at Zywave.