The Affordable Care Act contains a requirement that employers operating self-funded health plans must pay a Patient Centered Outcomes Research Institute (PCORI) tax of $1.00 per member per year for plan years ending on or after October 1, 2012. Plan years ending October 1, 2013 and after must pay a tax of $2.00 per member per year. This temporary tax expires on September 30, 2019. The taxes are filed on IRS Form 720 and are due by July 31st of the year following a plan year end date. IRS Form 720 and the instructions for filing Form 720 can be found below.
For more information on PCORI and the Affordable Care Act visit www.aultcare.com/reform
Mike Novelli, Vice President Reform Implementation at AultCare