Patient-Centered Outcomes Research Institute (PCORI) Fees Update
By Dave Barchet
The IRS has published the new fee that will be applicable for policy years and plan years that end on or after October 1, 2016 and before October 1, 2017. That new fee, which is assessed and calculated using the average number of lives (includes spouses and dependents) covered under the policy, is $2.26 per covered life.
Increases in the PCORI fee are calculated by multiplying the prior fee by the % increase in the projected per capita amount of National Health Expenditures published annually in July by HHS.
There are 3 different ways to calculate the average number of lives:
• Actual Count
• Snapshot Method
• Form 5500
Findley Davies can assist with helping determine the average number of lives on your behalf to assure the lowest payment possible.
The fee is due to the IRS by July 31st of each year.
If you have questions about this, please call your Findley Davies consultant.