Patient-Centered Outcomes Research Institute fees due by July 31

Employers with self-insured group plans, including health reimbursement arrangements, should remember July 31 is the deadline to pay the fees that fund the Patient-Centered Outcomes Research Institute, says Benefit Advisors Network.

The institute was created by the Affordable Care Act to conduct research on the effectiveness of medical treatments and strategies so patients, providers, employers and insurers can make better-informed health decisions.

Most employer sponsors and insurers are required to pay fees to fund the PCORI based on the number of covered lives in each “applicable self-insured plan” and “specified health insurance policy,” BAN says.

For plan years ending between Jan. 1 and Sept. 30, 2020, the fee is $2.54 per covered life. The fee for plan years ending between Oct. 1 and Dec. 31, 2020 is $2.66 per covered life. All those fees must be paid by July 31, 2021.

For more information about the fees, read this article from Benefit Advisors Network.