Dec 03, 2024
New PCORI Fee Announced for 2024-2025
The IRS released Notice 2024-83 with the latest PCORI Fee information. Click here to review the Notice.
Background
- Section 4275 imposes a fee on the issuer of a specific health insurance policy for each policy year ending after September 30, 2012 and before October 1, 2029.
- Section 4376 imposes a fee on the plan sponsor of an applicable self-insured health plan (and level funded health plan) for each plan ending after September 30, 2012 and before October 1, 2029.
| PCORI Fees - Patient Centered Outcomes Research Trust Fund | |
|---|---|
| Plan Years ending January 2024 and before October 1, 2024 | Due July 31, 2025 $3.22/per individual |
| Plan Years ending on or after October 1, 2024 and before January 1, 2025 | Due July 31, 2025 $3.47/per individual |
The fee is calculated using the average number of lives covered under the policy or plan and the applicable dollar amount for that policy year or plan year. The information is reported on IRS Tax Form 720 - Quarterly Federal Excise Tax Return.
Click here to go to the IRS website regarding PCORI Fee.
While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it. This publication is distributed on the understanding that the publisher is not engaged in rendering legal, accounting, or other professional advice or services. Readers should always seek professional advice before entering into any commitments.
