The Patient-Centered Outcomes Research Institute (PCORI) Fees are due July 31 from health insurers and the plan sponsors of self-insured plans. The fee is paid annually using Form 720, Quarterly Federal Excise Tax Return.
The PCORI Fee helps fund research that evaluates and compares health outcomes, clinical effectiveness, and the risks and benefits of medical treatments and services. Under the Affordable Care Act (ACA), health insurers and plan sponsors are responsible for paying the PCORI Fee. For 2018, the fee is $2.39 for each life subject to the fee.
UnitedHealthcare is responsible for filing IRS Form 720, paying the PCORI fee for fully insured customers and submitting the required payment by July 31 the year after the plan year ends. Fully insured customers with self-funded HRAs and FSAs are required to pay the fee on each employee covered under the account.
Self-funded plan employers and sponsors are responsible for submitting Form 720 and paying the PCORI fee directly to the IRS by July 31. The fee is assessed on all covered lives, including employees, retirees, spouses and dependents. Customers have access to their entire population, not just the lives covered by UnitedHealthcare. The membership report from Employer eServices® can assist in the PCORI calculation, and customers can reference IRS Form 5500 for more details on exclusions and variations.
All Savers will mail membership information to employer groups, who are required to complete and file the Form 720.
The IRS Form 720 can be found on www.irs.gov. Contact your UnitedHealthcare representative for more information, or connect with All Savers Broker Services at 1-800-291-2634.