Patient-Centered Outcomes Research Institute fees due July 31
Self-funded employer groups, plan sponsors and fully insured customers with self-funded health reimbursement accounts or flexible spending accounts are required to submit IRS Form 720 and pay PCORI fees by July 31.
- All states
- All Business Sizes
The Patient-Centered Outcomes Research Institute (PCORI) fee helps fund research that evaluates and compares health outcomes, clinical effectiveness, and risks and benefits of medical treatments and services. The fee, effective 2012-2029, is treated like an excise tax by the IRS. Each year, the PCORI fee is assessed per covered life and is due July 31. The amount for reporting this year is as follows:
- For plan and policy years that end on or after Oct. 1, 2021, and before Oct. 1, 2022, the PCORI Fee is $2.79 per covered life.
- For plan and policy years that end on or after Oct. 1, 2020, and before Oct. 1, 2021, the PCORI fee is $2.66 per covered life.
As a reminder, the PCORI fee is assessed on all covered lives – including employees, retirees, spouses, and dependents. The PCORI fee is due July 31, 2022.
UnitedHealthcare is responsible for filing IRS Form 720 forms and paying the fee for fully insured customers. Self-funded (ASO) groups, including Level Funded, must file IRS Form 720 and pay for each life subject to the fee by July 31. Instructions for completing the form will be posted on the IRS website.
For more information, please contact your broker or UnitedHealthcare representative.
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