Not only did the Further Consolidated Appropriations Act, signed into law on December 20th, repeal three taxes under the Affordable Care Act; the law also extends payment of PCORI fees for the next ten years (2020 through 2029).
The ACA created the Patient-Centered Outcomes Research Institute (PCORI) to help patients, clinicians, payers and the public make informed health decisions by advancing comparative effectiveness research. The Institute is funded, in part, by PCORI fees paid by health insurance issuers and sponsors of self-insured health plans.
Under the ACA, the PCORI fees were scheduled to apply to policy or plan years ending on or after October 1, 2012, and before October 1, 2019. The 2019 continuing spending resolutions reinstated PCORI fees for the 2020 through 2029 fiscal years. As a result, insurers and employers must continue to pay these fees through 2029.
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It is our goal to guide you through ongoing change. Should you have any questions regarding this information, please don’t hesitate to reach out to Creative Benefits at 866-306-0200.