The Patient Centered Outcomes Research Institute (PCORI) fee is due July 31, 2015 for employers with any type of self-funded plan and/or a Health Reimbursement Arrangement.
The fee helps fund unbiased research that evaluates the clinical effectiveness of medical treatments regardless of the profit potential. This fee is also known as the Comparative Effectiveness Research Fee, or CERF.
The amount of the fee depends on your health plan’s effective date. The fee is $2 per covered life for employers with February 1 through October 1 effective dates, and $2.08 for employers with November 1, December 1, or January 1 effective dates. You need to calculate the average number of lives (employees and all dependents) over the plan year that ended in 2014. There are several allowable estimation methods for arriving at this average.
Employers must submit payment for the PCORI fee along with the IRS Form 720 (Rev. April 2015).
All Fall River clients who need to remit the PCORI fee were emailed detailed instructions and assistance several weeks ago. For other employers, we’ve provided the IRS Form 720 and the instructions for filing links.
This email address is being protected from spambots. You need JavaScript enabled to view it. if you need help complying with this requirement, as the deadline is upon us now!
