June 7, 2013 – Patient-Centered Outcomes Research Institute (“PCORI”) Fees

June 7, 2013 – Patient-Centered Outcomes Research Institute (“PCORI”) Fees

Many plan sponsors of self-insured health plans are required to pay PCORI fees by July 31, 2013.  Specifically, the fees must be paid by this July 31st if the plan is a calendar year plan or a fiscal year plan with a plan year ending between October 1, 2012, and December 31, 2012.  For other fiscal year plans with plan year years ending after December 31, 2012, the first fee is not due until July 31, 2014.

The IRS recently released an updated Form 720, which is the form used to pay the PCORI fees.  The form is available here:  http://www.irs.gov/pub/irs-pdf/f720.pdf.  Instructions for the form are available here:  http://www.irs.gov/pub/irs-pdf/i720.pdf.

If you have any questions or would like assistance with any of the foregoing items, please contact us.

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The information contained in this ALERT is intended for general information purposes only and does not constitute legal advice relative to a specific situation.