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REMINDER: PCORI Filing and Fee Due No Later than July 31, 2016


  03:50:00 pm, by MedBen5   , 257 words,  
Categories: News, Health Care Reform, Taxes, Reporting

REMINDER: PCORI Filing and Fee Due No Later than July 31, 2016

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As in years past, all self-funded employer health plan sponsors are required to file and pay their Patient-Centered Outcomes Research Institute (PCORI) fee no later than July 31, 2016. All self-funded plan sponsors are required to pay a fee based on the average number of covered lives under their eligible plans — including 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, 2016 to record and remit the amount due. This year, the IRS Form 720 has been modified to include the payment amounts due under the schedule shown below. Make sure to complete the correct section of Part II for “Applicable self-insured health plans” and that you select the correct payment amount based on your plan’s year end date. The form is available on the IRS website, or simply perform a search for "IRS Form 720."

IRS Form 720

This year’s payment schedule is as follows. If your plan year ended on October 31, 2015, November 30, 2015 or December 31, 2015 you will owe $2.17 per covered life. All other plans years owe $2.08 per covered life.

PCORI Fee Deadlines

MedBen clients who need more information about how to count covered lives under their plan or how to prepare and remit their payment are welcome to contact Vice President of Compliance Caroline Fraker at 800-851-0907 or

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