Upcoming Deadline for Annual Reporting and Payment of PCORI Fee Under the Affordable Care Act

The deadline for plan sponsors of self-insured health plans to report and remit the Patient-Centered Outcomes Research Institute fee (?Ç£PCORI Fee?Ç¥) due under the Affordable Care Act with respect to the 2016 plan year is July 31, 2017. For this purpose, a plan year that ended during 2016 is considered a 2016 plan year. The PCORI Fee is assessed to fund the Patient-Centered Outcomes Research Institute and applies to plan years ending on or after October 1, 2012, and before October 1, 2019. Plans should report and remit the PCORI Fee, which is based on a flat dollar amount multiplied by the average number of lives covered under the plan for the applicable plan year, via a second quarter IRS Form 720.The applicable covered lives fee amount for plan years that ended after December 31, 2015, and before October 1, 2016 is $2.17. The applicable covered lives fee amount for plan years that ended after September 30, 2016, and before January 1, 2017 is $2.26. View?áadditional information?áregarding calculating, reporting, and paying the PCORI Fee. View?áIRS Form 720. View?áinstructions for IRS Form 720.