Self-funded health plan sponsors should note the Patient-Centered Outcomes Research Institute (PCORI) fee is due on July 31, 2024. The fee per covered individual for plan years ending on or after January 31, 2023, through September 30, 2023, is $3.00. The fee per covered individual for plans ending on or after October 31, 2023, to September 30, 2024, is $3.22. Plan sponsors may select one of the four available calculation methods. Once the fees are updated on Form 720 by the IRS, Bukaty Companies will alert clients.
The fee is imposed by the IRS and adjusts annually. The funds collected support PCORI’s operations, which focus on advancing clinical effectiveness research to help patients, clinicians and policymakers make better informed decisions. The fee can be paid through the Electronic Federal Tax Payment System (EFTPS),
The fee amount per plan year can be seen below.
For more information on the upcoming PCORI fee deadline consult with your Bukaty Companies representative or refer to the IRS’ PCORI fee FAQ.