If your bank offers a Health Reimbursement Arrangement (HRA), there is a fee to pay.

Our medical plan is already covered. Because your Blue Cross Blue Shield of Massachusetts medical plan is fully insured, the carrier pays the PCORI fee and includes the cost in your premium, so there is nothing for the bank to handle there.

An HRA is the exception. On its own, an HRA is treated as a self-insured health plan, so it carries its own PCORI fee even when integrated with a fully-insured medical plan. If your bank offers one, reporting and paying that fee is the bank's responsibility.

Helpful IRS Resources

• PCORI Fee Questions & Answers
• Application of the PCORI Fee to Common Types of Health Coverage

The Essentials

• Who it applies to: only banks that offer an HRA.
• What to count: enrolled employees only, one covered life each. Spouses and dependents are not counted.
• The rate: $3.84 per covered life for plan years ending December 31, 2025.
• Where to file and pay: the PCORI line of the second-quarter Form 720, paid through the Electronic Federal Tax Payment System (EFTPS), by July 31, 2026.

Get IRS Form 720

The PCORI fee is scheduled to sunset after September 30, 2029, with the final payment due July 31, 2030. This message is general information for member banks and is not legal or tax advice. Fee rates and the filing deadline reflect IRS Notice 2025-61 and current Form 720 instructions.

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