New PCORI fee will fund research and consumer-based health decisions!
Madison, WI (June 18, 2013) – TASC, a national leader in employee benefit plans administration, has announced a new service to deal with funding the Patient-Centered Outcomes Research Institute (PCORI). Established by the Patient Protection & Affordable Care Act (PPACA), the PCORI is charged with examining the “relative health outcomes, clinical effectiveness, and appropriateness” of different medical treatments. The Institute will evaluate existing studies and conduct its own, with funding in part by employer-paid fees.
Initial mandates include a new fee imposed on employers and insurance carriers for seven years, with fee amounts expected to change during that time. Due each July 31st, this fee is now set to affect Clients with Plan years ending 2012 through 2019 (this time frame may change, of course). While this July the amount due equals the average number of Plan Participants multiplied by $1, the PCORI fee multiplier will increase to $2 in 2014.
Of all the changes created by PPACA, it’s likely that few are more confusing than the rights and protections now offered to employees. This challenge is compounded by potentially significant penalties for failing to comply. TASC’s benefits experts make the job of complying with these ever-changing regulations quick and painless, by ensuring that our Client Plans meet all PPACA compliance requirements, by providing easy to understand service and instructions and toll-free customer service, and by offering more than 35 years of experience. As part of its ERISAEdge service, the TASC PCORI service will provide Clients with the fee calculation and instructions for completing the form and remitting payment.
