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Reminder: PCORI Filing and Fee Due Deadline Approaching

05/29/19

  04:51:00 pm, by MedBen5   , 308 words,  
Categories: Health Care Reform, Taxes, Compliance, PCORI, Affordable Care Act

Reminder: PCORI Filing and Fee Due Deadline Approaching

IRS Building

It’s that time of year again! As in years past, no later than July 31, 2019, all self-funded employer health plan sponsors are required to file and pay their Patient-Centered Outcomes Research Institute (PCORI) fee. But there’s good news this year!

The PCORI Fee payment requirement is nearing sunset. If your health plan has a plan year start date of November 1st, December 1st or January 1st, the July 2019 PCORI filing and payment will be your last at $2.45 per covered life.

If your plan year starts on February 1st through October 1st, you will owe $2.39 per covered life this year and your last PCORI payment and filing will be next year in July 2020.

All self-funded plan sponsors are required to pay a fee based on the average number of covered lives under their eligible plans – that includes employees, retirees, spouses and dependents. Self-funded plans subject to the requirements include self-funded medical benefit plans, including most non-ERISA self-funded plans and retiree-only plans. Other self-funded plans subject to the fee include self-funded HRAs and FSAs which are not integrated with a plan sponsor’s self-funded major-medical plan. Dental-only, vision-only, EAP, disease management, and wellness plans are exempt.

All plan sponsors must use the IRS Form 720 dated April 2019 to record and remit the amount due. The IRS Form 720 has been modified to include the payment amounts due this year. Make sure to complete the correct section of Part II for “Applicable self-insured health plans” and select the correct payment amount based on your plan’s plan year end date.

IRS Form 720


This year’s payment schedule can be found on the MedBen website along with more information about calculating and remitting the fee to the IRS. As always, if you need more information about how to count covered lives under your plan or how to prepare and remit your payment, don’t hesitate to contact your Group Service Representative.

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