PCORI Fees Due by July 31, 2017

Employers with self-insured health plans must pay the annual fee by July 31, 2017. All employers with self-insured health plans will pay the 2017 PCORI fee. Employers are responsible for submitting the fee and accompanying paperwork to the IRS. The form can be downloaded here

On the payment voucher (720-V) the tax period for the fee is the 2nd quarter. **Do not forget to indicate the fee is for the 2nd quarter.   According to the IRS, the fee is a tax-deductible business expense for employers with self-funded plans. Please see memo here.

For instructions on filing the PCORI fees, please visit the link below.

i720 – Instructions

Self-Insured Plan Year Ending in 2016 Fee per Covered Life for July 31, 2017 Payment
Plan year ending on or after Oct. 1, 2016, through Dec. 31, 2016, including calendar year plans. $2.26
Plan year ending on or after Jan. 1, 2016, through Sept. 30, 2016 $2.17
 Source: Xerox HR Services.

Transitional Reinsurance Filing Deadline November 15

trpfee

Who needs to file and pay?

  • Health insurance issuers
  • Self-insured group health plans
  • Group health plans with a self-insured coverage option and an insured coverage option
  • Multiple group health plans, including an insured plan, that are maintained by the same plan sponsor, that collectively provide major medical coverage for the same covered lives simultaneously
  • Multiple group health plans, not including an insured plan, that are maintained by the same plan sponsor, that collectively provide major medical coverage for the same covered lives simultaneously

The 2016 Reinsurance Contribution Rate is $27.00 per covered life.

 

Please see below instructions on filing your Transitional Reinsurance Fee. Learn More . . .