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IRS Adjusted PCORI Fee Amount for 2018

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The PCORI fee is an Affordable Care Act fee that funds comparative effectiveness research. It is applicable to both self-insured employers and health insurance carriers.

The IRS recently increased the PCORI fee amount for plan years ending on or after October 1, 2018, and before October 1, 2019 (2018 for calendar year plans). The new fee will be $2.45 multiplied by the average number of employees covered under the plan.

These fees must be paid annually on IRS Form 720 by July 31 of each year. The fees for plan years ending in 2018 are due by July 31, 2019.

PCORI fees do not apply for plan years ending on or after October 1, 2019. Therefore, for calendar years, the 2018 plan year is the last plan year that these fees will be effective.

Download the bulletin for more information.

 

Additional Resources

General Information

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Click to Download our 2019 IRS Contribution Limits Infosheet!

National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.

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Erin Woulfe

Erin Woulfe

Erin Woulfe likes to write about things that matter. Keeping her finger on the pulse of what’s happening in the public sector world, she blogs about the latest legislative news and employee benefit trends that affect our school, city and county clients. She’s been with NIS since 2002. “I love connecting to our clients and providing them with the tools they need in order to administrate their plan,” says Erin. “Whether that be materials to educate their employees on certain benefits, how to effectively communicate change within an organization, or providing tips and how-to’s to help them make their job easier.”