The PCORI fee is due July 31, 2014, from health insurers and the plan sponsors of self-insured plans. The fee is paid annually using Form 720, Quarterly Federal Excise Tax Return. Please note that electronic filing is available, but not required. Payment will be due at the time the Form 720 is due.

The PCORI fee is a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans that helps to fund the Patient-Centered Outcomes Research Institute. 

The fee for plan years ending after Oct. 1, 2013, is $2 per the average number of lives under the plan. The fees for plan years ending before Oct. 1, 2013, will remain $1 per the average number of lives under the plan. Generally, all individuals who are covered during a plan year must be counted in calculating the average number of lives covered for that year.

Issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans are responsible for reporting and paying the PCORI fee. We advise you to coordinate with your insurance carrier to verify if they will be filing this form on your behalf or if you are responsible for filing it at the business entity level.