New PCOR Fee Announced

Issued date: 12/04/20

Issued date: 12/04/20

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:

 
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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.

CIRCKA