On Friday, June 26, the IRS updated its Form 720 to reflect the PCORI fee amounts and plan year end dates applicable to plan years ending in the 2025 calendar year. Because the amount on column (b) on Line 133(c) now correctly lists $3.47 and Line 133(d) now correctly lists $3.84 (and no longer list $3.22 and $3.47, respectively), employers and other plan sponsors are now able to complete and submit their Form 720 for PCORI fees ending in 2025 (when applicable).
Applies to:
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Self-funded medical plans ending in 2025, including level-funded plans, HRAs, ICHRAs, QSEHRAs, MERPs, and other less common arrangements as described on the IRS chart found at: https://www.irs.gov/newsroom/application-of-the-patient-centered-outcomes-research-trust-fund-fee-to-common-types-of-health-coverage-or-arrangements
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Exceptions: Fully insured plans are the carrier’s responsibility, and excepted benefits are exempt, including stand-alone vision or dental plans, HSAs, and health FSAs that qualify as an excepted benefit.
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