The ACA created the Patient-Centered Outcomes Research Institute to help patients, clinicians, payers and the public make informed health decisions by advancing comparative effectiveness research. The Institute’s research is funded, in part, through fees paid by health insurance issuers and self-insured health plan sponsors. These fees are widely known as PCORI fees, although they may also be called PCOR fees or comparative effectiveness research (CER) fees.
The PCORI fees apply for plan years ending on or after Oct. 1, 2012, but do not apply for plan years ending on or after Oct. 1, 2019. For calendar year plans, the fees will be effective for the 2012 through 2018 plan years. Issuers and plan sponsors will be required to pay the PCORI fees annually on IRS Form 720 by July 31 of each year.
Our goal at Cowden Associates, Inc. is to provide strategic consulting advice in a timely and useful manner while being a trusted resource to assist our clients in managing their compensation, benefits, and retirement programs.
We have extensive experience in working with clients to meet their Reporting obligations, please contact your Cowden representative for more information on this or other compliance issues.