PCORI Fees Due July 31
Employers that sponsor self-insured group health plans have until July 31, 2019 to pay annual Patient-Centered Outcome Research Institute (PCORI) fees. Learn more about the fee in our latest blog here.
The plan sponsor or insurance carrier is responsible for payment based on the funding arrangement. You may be wondering how these fees are calculated. Click here for our PDF that clarifies the rules surrounding fee responsibility, calculation, and payment.
How to Calculate What You Owe
You need two items to start the calculation:
- Average number of covered lives.
- Plan year end date.
- Plans that ended between Jan. 1, 2018 and Sept. 30, 2018 will see a fee of $2.39/per covered life.
- Plans that ended between Oct. 1, 2018 and Dec. 31, 2018 will see a fee of $2.45/per covered life.
Click here to view our PDF that explains all calculation methods.
If you choose the Snapshot Method, we've calculated the number of billable lives for each quarter start date month:
- Q1 Employee Count = 38
- Q2 Employee Count = 37
- Q3 Employee Count = 37
- Q4 Employee Count = 35
Additional Information You May Need
If you did not use PrimePay as an administrator for the entire year, you will need to obtain your enrollment counts from your prior TPA - or from old enrollment reports.
Plan sponsors must report and pay PCORI fees using the IRS Form 720, Quarterly Federal Excise Tax Return.
For more information, search PCORI on support.primepay.com, email benefitsuccess@primepay.com, or call (877) 972-6272
Thank you,
The PrimePay Team
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