This week, active Starmark® employers with a self-funded health plan design who are required to pay the Patient-Centered Outcomes Research Institute (PCORI) fee will receive a letter providing their group’s “average covered lives” (using the Snapshot Count method). As a courtesy, the Broker of Record will receive a duplicate copy of the letter sent to their group.
The Patient Protection and Affordable Care Act requires health insurance issuers and plan sponsors of self-funded group policies be assessed an annual PCORI fee, previously known as the comparative effectiveness research fee.
Plan sponsors of self-funded health plans are responsible for filing and paying the PCORI fee. Sponsors of plan years ending in 2013, are required to send the fee to the IRS on Form 720 by July 31, 2014.
For fully insured plans, Trustmark Life Insurance Company is responsible for filing the form and paying the required PCORI fee.
Click here to view a sample letter.