Wednesday, May 23, 2012

What The PCORI Fee Means For Your Business

A Patient-centered Outcomes Research Institute (PCORI) fee will be imposed on plan sponsors and issuers of individual and group policies under the Patient Protection and Affordable Care Act. The first year of the fee is $1 per covered life per year, the second year the fee adjusts to $2 per covered life.

The fee, formerly the comparative effectiveness research fee, contributes to the Patient-Centered Outcomes Research Trust Fund that funds research to evaluate and compare health outcomes and the clinical effectiveness of medical treatments. On April 17, 2012, the IRS proposed regulations that provide guidance on calculating and paying the PCORI fee.

The fee applies to certain specified health insurance plans/policies and includes medical, pharmacy, retiree-only, any accident or health insurance coverage (including a policy under a group health benefit plan) issued to individuals residing in the United States.

For more information please view the full article released by UnitedHealthcare.

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