It’s Time for PCORI Fees

Hi, this is Connie Chiara with Corporate Benefit Partners. Did you know that PCORI fees are due on July 31st? I know, right? What the heck is a PCORI fee? The Affordable Care Act requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcome Research Institution fees, PCORI fees.

The fees are reported and paid using IRS Form 720. If you are fully insured, your insurance carrier pays this fee on your behalf. If you are alternately-funded, level-funded or self-funded, you as a plan sponsor or employer are responsible for filing a 720 and reporting the fees. For the plan you’re ending on or before October 1st, 2023, the fee is $3.22 per employee. If you have questions about PCORI fees, call me. Let’s talk benefits.

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