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Three Important Acronyms

PCORI: Patient-Centered Outcomes Research Institute

QSEHRAs: Qualified Small Employer Health Reimbursement Arrangements

ICHRAs: Individual Coverage Health Reimbursement Accounts

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“Pay the PCORI Fee If You Have a 105-
HRA, QSEHRA, or ICHRA”

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If you own your own business, and have at least one employee, there’s a great way to get the maximum tax deductions possible for health care insurance and other medical expenses.

All you have to do is establish a health reimbursement arrangement for your employees.

Good news. Depending on how you operate your business, it could include you and/or your spouse!

There are three types of arrangements you can choose from:

• 105-HRAs, which are available where your spouse is your only employee; see Blueprint for Employee-Spouse 105-HRA (Health Reimbursement Arrangement).
• Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs); see Get Your QSEHRA Health Plan in Place Now
• Individual Coverage Health Reimbursement Arrangements (ICHRAs); see New Individual Coverage HRA Turns the Clock Back to Pre-ACA Health Care Options

All three types of HRAs come with a pesky but low-cost annual filing requirement.

Every year, you the plan sponsor must file IRS Form 720 and pay a Patient-Centered Outcomes Research Institute (PCORI) fee.

Here’s the story:

• The fee is due by July 31 of the calendar year following each plan year.

• The fee is small—currently $3.00 per covered employee.

• The fee is paid when filing Form 720 with the IRS.

• The fee is tax-deductible.

Want to get the whole story about how to maximize you tax deductions? It’s easy.

CLICK HERE and read my completely new article titled:

“Pay the PCORI Fee If You Have a 105-HRA,
QSEHRA, or ICHRA”