Simply put, Patient-Centered Outcomes Research Institute (PCORI) was established to fund research that can help patients and those who care for them make better-informed decisions about the healthcare choices they face every day.
In order to help fund the PCORI, the Affordable Care Act imposes a fee on insurers of specified health insurance policies and plan sponsors of applicable self-insured health plans.
The organization is funded by the PCORI Trust Fund. The institute helps patients, clinicians, purchasers and policy-makers make informed health decisions by advancing clinical effectiveness research.
Employers are required to report and pay the fee for a plan year no later than July 31st of the calendar year immediately following the last day of the plan year to which a fee applies.
Employers sponsoring Health Reimbursement Account (HRA) plans must pay the fee.
PCORI fees and filing deadlines can be found here.
The funding of the PCORI Trust Fund will run through 2019.
The PCORI Fee is reported on Form 720, Quarterly Federal Excise Tax Return. Additional information on the fee is available on the PCORI page. Although Form 720 is a quarterly return, for PCORI, Form 720 is filed annually only, by July 31 of each year.
If you have any questions, please contact Rebecca Scandaliato.