The PCORI fee applies to certain self-funded health plans. While C2 Essentials will handle the administration process for clients, the actual fee has to be paid by the client prior to the July 31, 2024 deadline.
What is PCORI?
PCORI is a non-profit organization established by the US government. It plays a vital role in healthcare advancement by funding research focused on patient-centered outcomes. This research translates to evidence-based information about various treatment options, ultimately empowering patients and healthcare providers to make more informed decisions about individual care. You can find out more at https://www.pcori.org/.
How Does C2 Handle PCORI Administration for Clients with Self-Funded Plans?
If PCORI fees apply to your health plan, C2 will fill out the required Tax Form 720, Quarterly Federal Excise Tax Return, and forward it to you with a voucher for you to use when you submit payment.
The 2024 PCORI fee is $3.22 per covered life under a covered plan.
Who is NOT Required to Pay PCORI?
- Companies with fewer than 50 employees, regardless of plan type.
- Employers who offer fully-insured health plans, where the insurance company bears the risk for claims.