On November 14, 2022, the IRS released Notice 2022-59 with the 2023 adjusted applicable dollar amount—$3 per enrollee—for the Patient-Centered Outcomes Research Institute (PCORI) Trust Fund fee for plan years that end on or after October 1, 2022, and before October 1, 2023. The fee will continue through 2029. Of note, in 2022 it was $2.79.
The PCORI was established under the Affordable Care Act (ACA), which imposes a fee on specific health insurance policy issuers and applicable self-insured health plan sponsors to help fund the institute. The fee, required to be reported only once a year on the second quarter Form 720, Quarterly Federal Excise Tax Return and paid by its due date, July 31, is based on the average number of lives covered under the policy or plan.
Read more about the ACA and PCORI fees on the following pages:
- Affordable Care Tax Provisions for Employers
- Patient-Centered Outcomes Research Institute Fee
- Patient-Centered Outcomes Research Trust Fund Fee (IRC 4375, 4376, and 4377): Questions and Answers
- ACA: PCORI Fee