The Affordable Care Act (ACA) requires health insurance issuers and sponsors of self-insured health plans to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return). Issuers and plan sponsors are generally required to pay the PCORI fees annually on IRS Form 720 by July 31 of each year. However, because July 31, 2016, is a Sunday, PCORI fees will be due by August 1, 2016, for plan years ending in 2015.
For those employers with a self-funded health insurance plan or Health Reimbursement Arrangement, please note the PCORI (Patient-Centered Outcomes Research Institute) fee filing date is August 1, 2016. The fee is $2.08 for plan years ending on or after Oct. 1, 2014, and before Oct. 1, 2015 and $2.17 for plan years ending on or after Oct. 1, 2015, and before Oct. 1, 2016.
If you have any questions or need help with your filing please contact your S&S advisor.