Reminder: PCORI Fees Due July 31st
On December 20, 2019, the Further Consolidated Appropriations Act of 2020 was signed into law. Included in this Act was a 10-year extension of the Patient-Centered Outcomes Research Institute (PCORI) fee to fund government-sponsored medical research through 2029. The PCORI fee was originally set to expire in 2020.
Employers with self-funded plans subject to the PCORI fee requirement, including HRAs, will now continue to report and pay PCORI fees annually on the second-quarter Form 720 with payment due by July 31, 2020.
Third Party Administrators (TPAs) like Flores & Associates are neither allowed to file nor pay the PCORI fees on behalf of employers for the HRA plans they administer. Flores will provide enrollment information to our HRA clients who may need to pay a PCORI fee. This information will be available to download from the View Files section of the employer web portal at www.flores247.com the first week of July.
For more information on the Patient-Centered Outcomes Research Institute (PCORI) and the fee, please visit: https://www.irs.gov/newsroom/patient-centered-outcomes-research-institute-fee.
About Flores
Flores is a leading national administrator of tax-advantaged reimbursement plans including Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs) and Commuter Benefit Accounts (CBAs). In addition to these account-based benefit options, they also handle COBRA and other direct bill services to meet the compliance needs of the employers they serve. In 2018, Flores introduced life.balanced. Reimbursement Accounts (LBA), an affordable post-tax lifestyle reimbursement account for the culture-driven employer. Based in Charlotte, NC, Flores has emerged as the leader in the CDHP market through a service model founded upon innovative technology, dedicated professionals, and an uncompromising commitment to superior service. For more information, visit the Flores website and follow them on LinkedIn.
- Cindy Bistany
- Director of Business Development and Strategic Alliances
- (828) 693-3595
- cindy@flores247.com
- Clay Peddycord, GBA, CFC
- Director of Business Development and Strategic Alliances
- (800) 532-3327
- clay.peddycord@flores247.com
- Aaron Hunt, MBA, CDHC, HSAe, Certified COBRA Administrator
- Director of Business Development and Strategic Alliances
- (800) 532-3327
- aaron.hunt@flores247.com