January 6, 2020

PCORI fees are no longer a thing of the past.  Just before Christmas, President Trump signed into law the “Further Consolidated Appropriations Act, 2020” that effectively repealed the ACA’s Cadillac tax, but reinstated the PCORI fee.  Originally, employers were no longer required to pay the PCORI fees after they made their July 31, 2019 payment.  However, this new law extends the requirement to pay the PCORI fee through July 31, 2029.  Not sure what the PCORI fee is?  If your company offers health or major medical coverage under multiple policies or plans provides a self-insured plan medical plan, accident coverage or COBRA coverage, then you are likely to have the type of health coverage that requires your company pay the annual PCORI fee.  If you have questions about applicability or what to do if you have missed payments, contact the attorneys at myHRcounsel today for assistance!