PCORI Fee due by July 31st
Compliance Alert
PCORI (Patient-Centered Outcomes Research Institute) fees, which were originally imposed under the Affordable Care Act and extended under the Further Consolidated Appropriations Act, are the responsibility of all issuers of specified health insurance policies and plan sponsors offering self-funded health plans, including Health Reimbursement Arrangements.
Self-funded employers and health carriers must submit the annual PCORI fees by July 31st via IRS Form 720 and the Electronic Federal Tax Payment Systems (EFTPS). The fee is calculated based on the average number of lives covered under the policy or plan.
Fee Schedule:
| Plan Year End Date | Fee |
| On or after October 1, 2021 and before October 1, 2022 | $2.79 per covered individual |
| On or after October 1, 2022 and before October 1, 2023 | $3.00 per covered individual |