Ledbetter Parisi LLC
PCORI Fee Deadline Approaching
The annual PCORI fee is due July 31. The PCORI fee was implemented by the Affordable Care Act in order to provide money for the Patient Outcomes Research Institute, which funds studies that assist consumers, medical providers, health plans, and policymakers to make informed decisions intended to improve health care. The fee was originally going to expire in 2019, but was extended for another 10 years by the SECURE Act.
For plans with plan years ending from January 2021 through September 2021, the fee is $2.66 per covered life. For plans with plan years ending from October 2021 through December 2021, the fee is $2.76 per covered life. Covered lives include members, spouses, dependent children, retirees, and COBRA beneficiaries.
The PCORI fee is reported on IRS Form 720, and must be reported and paid no later than July 31, 2022.