PCORI Fees Due July 31
May 17, 2018
To support research on healthcare plans, including Flexible Spending Accounts (FSA) and Health Reimbursement Arrangements (HRA) that are not excepted benefits, employers are required to file and pay applicable PCORI fees using IRS Form 720 by July 31, 2018 for plan years that ended January 1, 2017 through December 31, 2017.
Fees are paid based on the average number of covered lives under the plan. For FSAs and HRAs, a covered life is defined as the participant. For medical healthcare plans, covered lives are defined as the employee and dependents. If your plan year ended January 1, 2017 - September 30, 2017, the fee is $2.26 per covered life. If your plan year ended October 1, 2017 – December 31, 2017, the fee is $2.39 per covered life.
Please consult your tax advisor for assistance on completion of IRS Form 720 and payment of fees.
Additional details: