via Lockton Benefit Group

The health reform law imposes a number of fees, taxes and other assessments on health insurance companies and sponsors of self-funded health plans to help subsidize a number of endeavors. One such fee funds the Patient-Centered Outcomes Research Institute (PCORI).

The PCORI fee is $2.08 per covered life for plan years ending on or after Oct. 1, 2014, and must be reported on (and remitted with) IRS Form 720 by July 31, 2015. For self-funded plans, the employer/plan sponsor will be responsible for submitting the fee and accompanying paperwork to the IRS. Third-party reporting and payment of the fee is not permitted for self funded plans.

To read further on the process for remitting payment for sponsors of self-funded plans CLICK HERE