The Patient-Centered Outcomes Research Institute (PCORI) was authorizes by congress as part of the Patient Protection and Affordability Act of 2010. The funding for PCORI is provided through fees paid by health insurers and self-funded plans. The funding was supposed to end in July of 2019. However, the Further Consolidated Appropriations Act of 2020 extended PCORI for another 10 years .
The greatly anticipated guidance for PCORI fees, for plans ending after October 2019 by health insurers and self-funded plans, was released yesterday June 9, 2020.
The dollar amount that must be used to calculate the fee for policy years and plan years that end on or after October 1, 2019, and before October 1, 2020, is $2.54.
The PCORI fee is calculated off the average number of lives covered during the policy year. That means that all parties enrolled will have to be accounted for such as dependents, spouses, retirees, and COBRA beneficiaries.
Please contact our office if you have any questions.