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The Internal Revenue Service (IRS) released IRS Notice 2022-04, which provides the 2022 update for the Patient-Centered Outcomes Research Institute (PCORI) fee. The PCORI fee was implemented as part of the Affordable Care Act and is designed to fund the Patient-Centered Outcomes Research Trust Fund, which funds research to evaluate the quality, outcomes, and effectiveness of health care treatments and interventions.
The updated PCORI fee is $2.79 per covered life for plan years ending on or after October 1, 2021, and before October 1, 2022. The PCORI fee is paid by fully insured plans though the monthly premium payments to the carrier and self-funded plans pay the fee as part of the annual IRS Form 720 filing.