With summer in full swing, July 31 will be here before you know it. On or before that date, some employers will need to file an IRS Form 720 and submit the applicable payment for their Patient Centered Outcomes Research Institute (PCORI) fees. Employers with self-funded health plans and those with HRAs are generally responsible for filing and paying the fee. Employers with fully-insured health plans are generally not responsible for the filing or paying, unless they also sponsor an HRA.
Remember, the cutoff for figuring the amount you may owe is based on the month and year in which your plan ends, not when it begins. For example, a plan or policy that renewed on January 1, 2017 technically ended on December 31, 2016 and would owe $2.26 per member. Use this PCORI fee chart to help you determine what you may owe.
More about what types of plans are required to file, who is responsible for the filing/payment and when the filings must be submitted is available in this guide: Reporting and Paying the PCORI Fees.