Chamber Smart Plans

The ACA imposed the PCOR fee on health plans to support clinical effectiveness research. The PCOR fee, which applies to plan years ending on or after October 1, 2012, and before October 1, 2029, is generally due by July 31 of the calendar year following the close of the plan year.
PCOR fees must be reported annually on Form 720, Quarterly Federal Excise Tax Return, for the second quarter of the calendar year. Plan sponsors that are subject to PCOR fees and no other types of excise taxes should file Form 720 only for the second quarter. For further details, please refer to: Form 720, Quarterly Federal Excise Tax Return (Rev. June 2024) and Instructions for Form 720 (Rev. June 2024) (irs.gov).
Generally, the PCOR fee is assessed based on the number of covered lives, which include enrolled employees, retirees, and COBRA participants and their enrolled spouses, domestic partners, and dependents. The fee for policy and plan years ending on or after October 1, 2022, but before October 1, 2023, is calculated based on the applicable rate of $3.00, multiplied by the average number of covered lives under the plan. For plan years ending on or after October 1, 2023, but before October 1, 2024, the fee is increased to the applicable rate of $3.22, multiplied by the average number of covered lives under the plan.
As a reminder, the insurer is responsible for filing and paying the fee for a fully insured plan. The employer plan sponsor is responsible for filing for a self-insured plan, including an HRA or point solution program that provides medical care. But stand-alone dental or vision plans and health FSAs that qualify as excepted benefits would not be subject to the PCOR fee.
According to the IRS, the fee is tax-deductible as a business expense. ERISA plan assets should not be used to pay the fee.
For further information regarding the PCOR fee and filing, please email me at [email protected]

Thank you to Bill Borden

Have you ever thought about this?
In 100 years like in 2123 we will all be buried with our relatives and friends.
Strangers will live in our homes we fought so hard to build, and they will own everything we have today. All our possessions will be unknown and unborn, including the car we spent a fortune on, and will probably be scrap, preferably in the hands of an unknown collector.
Our descendants will hardly or hardly know who we were, nor will they remember us. How many of us know our grandfather's father?
After we die, we will be remembered for a few more years, then we are just a portrait on someone's bookshelf, and a few years later our history, photos and deeds disappear in history's oblivion. We won't even be memories.
If we paused one day to analyse these questions, perhaps we would understand how ignorant and weak the dream to achieve it all was.
If we could only think about this, surely our approaches, our thoughts would change, we would be different people.
Always having more, no time for what's really valuable in this life. I'd change all this to live and enjoy the walks I've never taken, these hugs I didn't give, these kisses for our children and our loved ones, these jokes we didn't have time for. Those would certainly be the most beautiful moments to remember, after all they would fill our lives with joy.
And some of us waste it day after day with greed, selfishness and intolerance.
Every minute of life is priceless and will never be repeated, so take time to enjoy, be grateful for, and celebrate your existence.