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Who pays PCORI Fees
07-09-2024

Who pays PCORI Fees

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      1) In general the health insurance providers should pay the PCORI fee for their respective policies.

      2) Individual employers should pay the fee for the self-insured plan they are enrolled with.

      3) Plan sponsors must pay the fee for their self-insured plan. 

What if you don’t pay the PCORI Fee?

Similar to other excise taxes this needs to be paid on time. The PCORI Fee also has specific due dates. If you fail to pay before the due date, you will incur a penalty. Therefore, it is always better to pay the PCORI Fee on time.

Read our blog on PCORI Penalty to know more. 

When PCORI would be due in 2024?

The PCORI Fee has specific due dates that must be followed; otherwise, penalties will be imposed. The due date for 2024 is July 31. The PCORI Fee is an excise tax, and the penalty for late payment can vary between 5% and 25% of the unpaid tax amount. 

How to pay PCORI smartly?

The smartest way to pay the PCORI Fee is always online, considering various factors. If you wonder whether PCORI Online Vs Paper filing is better, it's always online filing.

You can do this through our IRS-approved PCORI Online Application Portal, Simple 720. You can refer to the blog link below for guidelines on how to pay the PCORI fee online with Simple 720.

https://www.simple720.com/blog/how-to-file-pcori-online 

WRAP:

By reading the blog, you can gain more clarity on who needs to pay the PCORI fee, when it should be paid, and how you can complete you filing in a few minutes using our Simple Form 720 portal.


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