IRS Releases 2022 PCORI Fee Amounts - Bim Group

IRS Releases 2022 PCORI Fee Amounts

News

Share this post:

Linkedin

(READ TIME: 1 MINUTE)

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.

 

Recent Insights

April 8, 2024
HIPAA

Timely Responses Required for Requests under HIPAA’s Right of Access Rule

READ TIME: 4 MINUTES On December 15, 2023, the U.S. Department of Health and Human Services (HHS) Office for Civil Rights (OCR), announced a settlement under the Health Insurance Portability & Accountability Act (HIPAA) Right of Access Rule. This penalty illustrates that the Right of Access Rule remains a focus of HHS and that health […]
Read more
April 8, 2024
Compliance Alert

March 2024 Compliance Recap

READ TIME: 7 MINUTES ACA reporting is in its first year of the required electronic reporting for employers filing ten or more returns annually. Employers and employees must make changes to HSAs by the April 15 deadline. Employers of all sizes continued to prepare for the June 1 RxDC Reporting using the newly released instructions. […]
Read more
March 27, 2024
HR Elements

Workplace Culture | Attracting and Hiring Veterans

READ TIME: 5 MINUTES Hiring veterans can address the challenges of a skilled labor shortage and diversify your talent pool. You can tap into veterans’ technical skills and leadership experience by adjusting your recruitment strategies to consider practical experience over academic qualifications. Why should you develop a more inclusive recruitment strategy for veterans? Veterans bring […]
Read more
March 18, 2024
News

Bim Group named one of the 2024 Best Places to Work in Kentucky!

Bim Group is honored to be named a Best Place to Work (BPTW) in Kentucky for the 19th year in a row! It truly never gets old and we are extremely proud of our perennial recognition as a “Best Place to Work” employer – a designation bestowed on our company by our employees. We have a unique […]
Read more