United States:
IRS Increases PCORI Fee
20 October 2023
Groom Law Group
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On October 18, the IRS issued Notice 2023-70, which increased
the PCORI fee from $3 per covered life to $3.22 per covered life
for policy and plan years that end on or after October 1, 2023 and
before October 1, 2024. Group health plans and health insurance
issuers must generally pay the PCORI fee on each covered life under
the plan or policy. The fee is due to the IRS annually on July 31
using Form 720.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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