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While the recent focus of many organizations has been on impact to benefits based on the COVID-19 pandemic, other significant updates been released. Review this article to be sure you are staying up-to-date with other guidance, including COBRA Notices, HSA limits, and PCOR fee requirements.
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Categories: Benefits in General, Compliance | Tags: HSA , Health Savings Account , 2021 Limits , Rev. Proc. 2020-32 , PCOR fee , Patient Centered Outcome Research Fee , July 31 , IRS Form 720 , COBRA Model Notices
In December 2019, the Further Consolidated Appropriations Act, 2020 was signed. Among many provisions was an extension of the tax used to fund the Patient-Centered Outcomes Research Institute. This tax was first applicable in 2013 and the final tax filings were scheduled for 2020. With this extension, plans will now be responsible for this tax and filing for an additional 10 years, up to 2030.
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Categories: Health Care Reform, Compliance | Tags: Further Consolidated Appropriations Act 2020 , HR 1865 , PCOR Fees , Patient-Centered Outcomes Research Institute

IRS Releases Updated Form 720 for PCOR Fees

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The IRS has released a revision to IRS Form 720 and Form 720 Instructions, which is to be used for the PCOR fees due July 31, 2019.
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Categories: Health Care Reform, Compliance | Tags: PCOR , PCOR fee , Patient-Centered Outcome Research Fee , July 31 , IRS Form 720 , HRA

IRS Announces PCOR Fee Adjustment

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IRS Notice 2018-85 provides the updated dollar amount to the be used to calculate the PCORI fee for health plan policy and plan years that end on or after October 1, 2018 and before October 1, 2019. This includes the 2018 calendar year plans, and the updated fee amount is $2.45 per covered life.
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Categories: Health Care Reform, Compliance | Tags: PCOR , PCORI , PCOR Fee , Patient Centered Outcome Research Institute , Form 720

IRS Releases Updated Form 720 for PCOR Fees

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The IRS has released a revision to the IRS Form 720 and Form 720 instructions that can be used for the PCOR fees due by July 31, 2018.
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Categories: Health Care Reform, Compliance | Tags: PCOR Fee , Patient Centered Outcome Research Fee , July 31 , IRS Form 720 , HRA

IRS Announces New PCOR Fee

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IRS Notice 2017-61 provided the updated dollar amount to be used to calculate the PCORI fee for health plan policy and plan years that end on or after October 1, 2017 and before October 1, 2018. This includes 2017 calendar year plans, and the updated fee amount is $2.39 per covered life.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: PCOR , 720 , IRS , ACA

IRS Releases Updated Form 720 for PCOR Fees

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Employers must wait for the IRS to update the Form 720 each year in order to pay their fees with the correct form. The IRS has released a revision to the IRS Form 720 and Form 720 instructions that can be used for the PCOR fees due by July 31, 2017.
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Categories: Health Care Reform, Compliance | Tags: PCOR , IRS , Form 720 , HRA , Self-funded , Health , Fee

IRS Announces New PCOR Fee

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IRS Notice 2016-64 provided the updated dollar amount to be used to calculate the PCORI fee for health policy and plan years that end on or after October 1, 2016 and before October 1, 2017. This includes 2016 calendar year plans, and the updated fee amount is $2.26 per covered life.
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Categories: Health Care Reform, Compliance | Tags: PCORI , HRA , IRS , Form 720 , ACA , Health Plan , Fee

IRS Releases Updated Form 720 for PCOR Fees

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The Patient-Centered Outcomes Research (PCOR) fee is to fund research on patient outcomes. Employer sponsored health plan(s) are subject to PCOR fees). An employer that has a HRA that is integrated with a major medical plan will pay a PCOR fee on the HRA and the insurer will pay the PCOR fee on the insured plan. May 26, 2016, the IRS released a revision to the IRS Form 720 that can be used for the PCOR fees due by July 31, 2016.
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Categories: Health Care Reform, Compliance | Tags: PCOR , IRS , HRA

PCOR Fee Increase Announced

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The IRS has announced that the Patient Centered Outcomes Research (PCOR) fee for group health plans that end between October 1, 2015 and September 30, 2016 will be $2.17 per covered life.
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Categories: Health Care Reform, Compliance | Tags: PCOR , Fee , IRS , 720
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