Once again, this year employers with self-insured health plans are required to pay the ACA tax known as the PCORI fee. Here’s a quick rundown of what you need to know while preparing to pay this year’s fee:
- The fee applies to self-insured employers with plan years that started between February 1, 2018 and January 1, 2019. For fully insured plans, carriers have already built the fee into your rates.
- The dollar amount owed per covered life in 2020 depends on the start date of the plan year.
- For plan years starting between February 1, 2018 and October 1, 2018, the fee is $2.45 per covered life.
- For plan years starting between November 1, 2018 and January 1, 2019, the fee is $2.54 per covered life.
If that’s hard to keep track of, you may prefer our Handy Chart.
As always, The Miller Group will reach out to our self-insured clients to assist them in calculating the PCORI fee and provide any additional assistance they may need. We also have the required tax Form and Instructions available.
Contact me or any member of your account team with any questions you may have.
REMINDER: Note that last year at this time, the PCORI fee was scheduled to expire, leaving only a few plans to pay the fee again this year. Subsequently, legislation was passed to extend the fee another ten years. That means all self-insured plans will be required to pay them again this year and for the foreseeable future.