Serving Colorado's Counties
The Internal Revenue Service (IRS) has announced a new indexed dollar amount for the Patient-Centered Outcomes Research Institute (PCORI) fee.
State and local governments sponsoring self-insured plans are subject to a yearly PCORI fee per covered life. During the previous enrollment period for 2023 it was announced at $2.63 per covered life. However, the IRS has increased the rate to $3.00 per covered life.
This new fee specifically applies to plans that end on or after October 1, 2022 and before October 1, 2023. Issuers of self-insured plans are required to pay the PCORI fee. To learn more about the Affordable Care Act and Resulting PCORI fee click here.
PCORI is an independent, non-profit research organization created to help patients and those who care for them make better informed health decisions. It does so through funding research, producing and promoting evidence-based information, working to improve healthcare delivery and outcomes, and helping people make informed healthcare decisions.
As a nonprofit, it depends on outside funding. Back in 2019, the United States Congress reauthorized PCORI for an additional 10 years. The IRS announces updated PCORI fees annually. It was part of the Patient Protection and Affordable Care Act of 2010 and was reauthorized through the Further Consolidated Appropriations Act, 2020.
Sponsors of self-insured plans must make annual PCORI payments by July 31 of the calendar year immediately following the last day of the applicable plan year. However, for members of the county pool, CHP handles the PCORI fee. With news that the IRS has adjusted the fee, CHP will also adjust for the fee accordingly. For any questions, please reach out to CHP staff at (303) 861-0507.
