Dec 04, 2020
New PCOR Fee Announced
Category:
Compliance Bulletins
Last week, the IRS released Notice 2020-84, announcing that the adjusted applicable dollar amount used to determine the PCOR fee for plan years ending on or after October 1, 2020 and before October 1, 2021 is $2.66.
The PCOR filing deadline is August 2, 2021 for all self-funded medical plans and some HRAs for plan years ending in 2020. Carriers are responsible for paying the fee for insured policies.
2021 Form 720, due August 2, 2021:
| Plan Year | Amount of PCOR Fee |
|---|---|
|
February 1, 2019 – January 31, 2020 |
$2.54/covered life/year |
|
March 1, 2019 – February 28, 2020 |
$2.54/covered life/year |
|
April 1, 2019 – March 31, 2020 |
$2.54/covered life/year |
|
May 1, 2019 – April 30, 2020 |
$2.54/covered life/year |
|
June 1, 2019 – May 31, 2020 |
$2.54/covered life/year |
|
July 1, 2019 – June 30, 2020 |
$2.54/covered life/year |
|
August 1, 2019 – July 31, 2020 |
$2.54/covered life/year |
|
September 1, 2019 – August 31, 2020 |
$2.54/covered life/year |
|
October 1, 2019 – September 30, 2020 |
$2.54/covered life/year |
|
November 1, 2019 – October 31, 2020 |
$2.66/covered life/year |
|
December 1, 2019 – November 30, 2020 |
$2.66/covered life/year |
|
January 1, 2020 – December 31, 2020 |
$2.66/covered life/year |
Employer Action
For now, no action by employers with self-funded health plans (or an HRA) is required. We will send a reminder in Summer 2021 of the fee and additional information for filing and paying the PCOR fee with the IRS.
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