Employers who sponsor self-insured health plans must file IRS Form 720 and pay the Patient-Centered Outcomes Research Institute (PCORI) fee by July 31, 2019 for plan years ending in 2018. Generally, this will be the last PCORI fee payment due for plans with plan years beginning on November 1, December 1 and January 1. The adjusted fee amount for those plans is $2.45. Most plans beginning on the first day of any other month of the year will make their final payment next year. The adjusted fee amount for those plans is $2.39 for this year’s filing and $2.45 for next year.
The adjusted fee amount is based on your plan year:
- $2.39 for plan years ending on or after Oct. 1, 2017, and before Oct. 1, 2018
- $2.45 for plan years ending on or after Oct. 1, 2018, and before Oct. 1, 2019
The fee amount is multiplied by the average number of covered lives during the plan year to determine the total amount due.
Our bulletin below contains additional information including who must pay the fee, the amount of the fee, and how the fee is reported. Also available on the IRS website are questions and answers relating to the payment of the PCORI fees.
If you have questions or need help, please contact one of our benefits consultants.