PCORI

Of all the changes created by PPACA, few are more confusing than the rights and protections now offered to employees. This is compounded by the potential of significant penalties for failing to comply. Our benefits experts make the job of complying with these ever-changing regulations quick and painless. We will continue to monitor future mandates to keep you informed and to ensure your Plan remains in compliance with changes as they occur. AgriplanNOW BizplanNOW has you covered!

Did you know that there is a new fee on Health Reimbursement Arrangement (HRA) Plans that ended between October 1, 2012 and December 31, 2012? And to make matters worse, the calculation of this new fee and the determination of which employees count can be extremely complicated. This fee will continue for the next 7 years.

Established by PPACA, the Patient-Centered Outcomes Research Institute (PCORI) is charged with examining the relative health outcomes, clinical effectiveness, and appropriateness of different medical treatments by evaluating existing studies and conducting its own. This Institute will be funded by employer-paid fees and fines for missed or late filing may be accessed!

Fortunately for our clients, AgriplanNOW BizplanNOW makes complying with this new regulation quick and painless. For our clients we will take the mystery out of PCORI and make sure that Plans stay in compliance by providing the fee calculation, an IRS Form 720, and instructions for completing the form/remitting payment. (Clients of TASC’s AgriPlanNOW, BizPlanNOW and ERISAEdge services received these PCORI services at no additional charge). Beginning in 2014 we have determined that groups with only one employee need not file the PCORI fee. Groups with more than one employee will receive a completed 720 from TASC for their signature. It is important to note, groups with more than one employee will need to change plans for 2015 to stay in compliance with Health Care Reform. Once again, TASC has your back with our new Small Business Solutions program designed for groups of 2-20. Call us TODAY for more information.