The IRS will raise PCORI fees for plans Ending October 1, 2014
The Patient Centered Outcomes Research Institute (PCORI) fee has gone up from $2.00 for each enrolled individual to $2.08 for plans ending on or after October 1, 2014 and before October 1, 2015.
To view the report of increase from the IRS, click here
As in previous years, our local health insurance carriers will pay the PCORI fee on behalf of fully-insured group health plans. Some of our clients see the additional fees on their own statements, which means the additional fees are being passed on to them.
According to IRS notice 2014-56, sponsors of self-insured group health plans, including some HRAs and health FSAs, must complete the filing process themselves using IRS Form 720.
The PCORI fees are set to continue until 2019. For more information, visit the FAQ section of the IRS website.
If you have any questions about this fee notice or know of someone in need of Health Insurance, call us at 955-1040. We are here to help you navigate through the maze of health insurance complexities.