PCORI Fee Reminder

The PCORI fee for group health plans that ended sometime during 2023 must be reported and paid by July 31, 2024. Health insurance carriers pay the fee on behalf of fully-insured plans, but employers are responsible for reporting and paying the fee for any self-funded group health plans, including HRAs. The fees due in July 2024 are as follows:

• $3.00 per covered life for plan years ending in January – September 2023.
• $3.22 per covered life for plan years ending in October – December 2023.

Average covered lives used for reporting and paying the PCORI fee may be determined using one of three methods: (i) the actual count method; (ii) the snapshot method; or (iii) the Form 5500 method. The fee is reported and paid by employers sponsoring self-funded group health plans using quarterly excise tax Form 720, Line 133(c) and (d), and should be filed for the 2nd quarter ending June 30th, 2024. NOTE: The Form 720 has not yet been updated to reflect this year’s PCORI fee amounts.