Compliance: PCORI

The Patient-Centered Outcomes Research Institute (PCORI) fee was established as a part of the ACA to fund medical research. Insurers and employers with self-insured plans are subject to the fee. The last PCORI fee payment was expected to occur on July 31, 2019 (or July 31, 2020 for non-calendar year plans). The PCORI fee is now extended for another 10 years, which means employers with self-insured plans must continue paying the PCORI fee.

The Further Consolidated Appropriations Act, 2020, signed into law on December 20, has reauthorized those fees for the next ten years, meaning that insurers and employers will have to continue to pay this fee until 2029 or 2030, depending on their plan year. The amount due per life covered under a policy will continue to be adjusted annually.

For more information on how to calculate this fee, see the IRS website.  An update to the attached workbook will be provided once the adjusted amounts are announced.

 

Source: https://www.connerstrong.com/blog/insights-detail/cadillac-and-other-aca-taxes-repealed-pcori-extended/

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