IRS 2022-2023 PCORI Fee Released

The Patient-Centered Outcomes Research Institute (PCORI) Fee is a charge to all employers and plan sponsors that offer self-funded plans (including HRAs). These fees help fund research to evaluate a variety of health outcomes, treatment effectiveness, risks, and benefits of treatments and medical services.

In Notice 2022-59, the IRS announced an increase in rate from $2.79 per average life covered (not just employees) under the self-insured policy to $3.00, an increase of over 7.5%. This rate is effective for plan years between October 1, 2022, and September 30, 2023.

Suppose you have any form of a self-funded plan. In that case, you must submit IRS form 720 and pay the resulting PCORI fee no later than July 31 of the calendar year immediately following the last day of the plan year (for example, plan years ending in 2022 will have this form and fee due on July 31, 2023).

If you have questions on if you are subject to PCORI fee filings, or if you need help completing your filing, reach out to our Benefit Advisors today!

Eric Thieringer President

Eric Thieringer is president of Eli Advisors, an HR, payroll and employee benefits firm focused on serving small to mid-size organizations. Eli's services and support address the frustrating gaps that challenge employers and their employees. By solving these problems, Eli Advisors creates financially sustainable programs and services that help organizations attract, retain, and engage the talent needed to succeed.

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