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.
| 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.