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June HR Update

Higginbotham

P CORI Fees Due July 31, 2023 The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees). The fees are reported and paid annually using IRS Form 720 (Quarterly Federal Excise Tax Return). March 2022 July 31, 2023 $2.79

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June HR News Worth Review

Higginbotham

As we have been discussing since last year through multiple webinars and compliance updates, the Transparency in Coverage Final Rules (TiC Final Rules) require group health plans and health insurance issuers to disclose on a public website detailed pricing information in three separate machine-readable files (MRFs).

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Medical Plans Have PCORI Fee Extended 10 Years

Fringe Benefit Analysts

As the saying goes, “Once a tax, always a tax.” At the end of 2019, Congress reauthorized the annual payment of the PCORI fee until 2029. While Form 720 is filed quarterly for several other federal excise taxes, the PCORTF fee is only required annually, on the second-quarter filing. This fee is currently $2.54 Scott Deru.

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Reminder: PCORI Fees Last Installment Due this July*

AssuredPartners

{"ops":[{"attributes":{"bold":true},"insert":" When the President signed the 2020 spending legislation (the 2020 Further Consolidate Appropriations Act), that repealed the ACA’s Cadillac Tax, the 2.3% excise tax on medial devices, the HIT (Health Insurance Tax).

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2019 Year End Round Up: ACA Changes – The Good, the Bad and the Ugly

AssuredPartners

{"ops":[{"insert":"On December 20, 2019, President Trump signed into law the "},{"attributes":{"link":"[link] Further Consolidated Appropriations Act"},{"insert":"—spending legislation which also included important changes for employer-sponsored health plans, repealing several taxes enacted as part of the Affordable Care Act (ACA) and extending one.

Taxes 40