Payment of the next annual Patient-Centered Outcomes Research Institute Fee is due July 31, 2015 for the 2014 plan year. As we described in detail in our Special Alert dated July 14th, 2014, this new fee is part of the new healthcare reform laws. In addition to applying to insurance carriers for healthcare policies generally, the fee also applies to nonprofit organizations (and others) that maintain self-insured health plans and health reimbursement arrangements (HRAs). The fee is reported using IRS Form 720 and is based on the average number of lives covered in the plan for 2014. For HRAs, this will generally be the number of participants. For other self-insured group health plans, this includes not only covered employees but also covered dependents. See our Special Alert (linked above) as well as the IRS Q&A’s for additional information. BMWL clients – please contact the BMWL Tax Team for assistance in addressing this issue.
This publication is for general informational and educational purposes only, and does not constitute legal, accounting, tax, financial, or other professional advice. It is not a substitute for professional advice. For permission to reprint, please contact us.