• Skip to primary navigation
  • Skip to main content
  • Skip to footer
eben header logo
  • About
  • Industries
  • Locations
  • Team
  • Contact
Client Login (910) 323-0290
Risk_Strategies

eBen

Expert Employee Benefits and HR Consulting and Brokerage Firm

  • Employee Benefits
    • Health
    • Dental
    • Vision
    • Life
    • Disability
    • FSA
    • Critical Illness
    • Cancer Plans
    • Voluntary
    • Group Pet Insurance
  • Compliance
    • ACA Reporting
    • Annual Notices
    • Dependent Eligibility Audits
    • Form 5500 Filing
    • HIPAA Compliance
    • Medicare Secondary Payer Compliance
    • Non-Discrimination Testing
    • Risk Management
    • Section 125 Premium Conversion Plan
    • USDOL Benefit Compliance Audit
    • Wrap and Summary Plan Description
  • HR Solutions
    • Benefits Administration
    • Benefits Portal
    • COBRA Administration
    • HR Administration
    • HR Consulting
    • Open Enrollment
    • Payroll
    • Time & Attendance Software
  • Individual
    • Health
    • Dental
    • Vision
    • Medicare
  • Insights
    • Blog
    • Newsletter
    • Workbooks
  • About
    • Careers
    • Case Studies
    • Contact
    • Employee Directory
    • Locations
(910) 518-9338
Get Started

PCORI Fee Amount Increase for 2024: Key Information
for Employers

November 13, 2023 by eBen

Woman drawing on white boardThe Internal Revenue Service (IRS) recently issued Notice 2023-70, marking a significant update for employers: the newly increased fees paid to fund the Patient-Centered Outcomes Research Institute (PCORI). Employers must understand this change, especially those managing self-funded and fully insured health plans.

PCORI Fee Increase Details

For plan years ending on or after October 1, 2023, and before October 1, 2024, the updated PCORI fee is $3.22 per covered individual, up from $3.00 in the previous year. This affects both self-funded and fully insured group health plans.

What Employers Need to Know

Self-Funded Plans

Employers with self-funded plans must file and pay the PCORI fee annually using IRS Form 720. The deadline for filing is July 31st of the year following your plan year-end.

Fully Insured Plans

For fully insured plans, insurance carriers handle the PCORI fee, usually included in monthly premiums. However, employers may owe additional PCORI fees for specific accounts like Health Care FSAs or HRAs.

Calculating the PCORI Fee

Calculate the fee using the average number of individuals covered under your plan multiplied by the updated fee rate. Refer to the IRS guidelines for detailed calculation methods.

2024 PCORI Filing and
Payment Date Deadlines

Plan Year End Date PCORI Fee Rate Filing and Payment Date
January 2023 $3.00/covered life July 31, 2024
February 2023 $3.00/covered life July 31, 2024
March 2023 $3.00/covered life July 31, 2024
April 2023 $3.00/covered life July 31, 2024
May 2023 $3.00/covered life July 31, 2024
June 2023 $3.00/covered life July 31, 2024
July 2023 $3.00/covered life July 31, 2024
August 2023 $3.00/covered life July 31, 2024
September 2023 $3.00/covered life July 31, 2024
October 2023 $3.22/covered life July 31, 2024
November 2023 $3.22/covered life July 31, 2024
December 2023 $3.22/covered life July 31, 2024

HRAs, FSAs, HSAs, and Excepted Benefits

Certain accounts and benefits have specific rules regarding the PCORI fee. For example, HRAs integrated with fully insured medical plans may treat each HRA as covering a single life. Health Care FSAs generally are exempt unless employer contributions exceed certain thresholds. HSAs and most dental/vision coverage are not subject to the PCORI fee.

Next Steps for Employers: Navigating the PCORI Fee Changes

Employees talking to each other in the officeAs we approach the 2024 plan year, it’s imperative for employers to stay informed about these changes to the PCORI fees. Understanding and adhering to these guidelines ensures compliance and helps maintain the integrity of your employee benefits offerings. For personalized guidance or additional information, feel free to contact our team or refer to the detailed IRS resources provided.

Category iconEmployee Benefits

Now that you know about us, let’s focus on your goals.

We’re here to help you move forward. Let’s start the conversation.

Contact Us

Stay Up to Date

Get timely emails from us about employee benefits and HR issues that matter to you.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Footer

risk logo white eben logo white

3150 North Elm Street, Suite 201
Greensboro, NC 27408

Link to company Facebook page

Link to company LinkedIn page

Link to company Instagram page

  • Employee Benefits
  • Benefits Compliance
  • HR Solutions
  • Individual Insurance
  • About
  • Insights
  • Contact
  • Locations
  • Careers
  • Industries
  • Request a Proposal
  • Grow Your Brokerage

Copyright © 2025, eBen. All Rights Reserved. Powered by 321 Web Marketing · Privacy Policy · Transparency in Coverage

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer which are AARP/United HealthCare, Alignment Health, AETNA, Anthem / BCBS, Cigna, GTL, Humana, Mutual of Omaha, Silver Scripts and WellCare. Please contact Medicare.gov, call 1-800-MEDICARE or contact SHIP to get information on all of your options.

Popup Modal: eBen Newsletter Signup

eBen logo

Before you go — stay up to date!

Get timely emails from us about employee benefits and HR issues that matter to you.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.