June 24, 2025
📢 IRS Update: New PCORI Fee for 2024–2025
🧩 Fee Overview
- Rate: $3.47 per covered life (up from $3.22 last year)
- Applicable To:
- Employers sponsoring self-insured health plans
- Health insurance issuers
🗓️ Coverage Period
Plan years ending between October 1, 2024 – September 30, 2025
✅ Required Steps for Employers
- Confirm your plan is subject to the PCORI fee.
- Determine the average number of covered lives (including dependents).
- Multiply that number by $3.47.
- File IRS Form 720.
- Submit payment by July 31, 2025.
🧠 What It Funds
The PCORI fee supports research that enhances informed healthcare decisions. Though initially slated to expire in 2019, it’s been extended and remains in effect through 2029.
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