The IRS recently released Notice 2022-04, announcing the adjusted applicable dollar amount used to determine the PCOR fee for plan years ending on or after October 1, 2021 and before October 1, 2022. The PCOR filing deadline is August 1, 2022 for all self-funded medical plans and some HRAs for plan years (including short plan years) ending in 2021.
On December 21, 2021, the IRS released Notice 2022-04, announcing that the adjusted applicable dollar amount used to determine the PCOR fee for plan years ending on or after October 1, 2021 and before October 1, 2022 is $2.79.
The PCOR filing deadline is August 1, 2022 for all self-funded medical plans and some HRAs for plan years (including short plan years) ending in 2021. Carriers are responsible for paying the fee for insured policies.
2022 Form 720, due August 1, 2022:
| Plan Year | Amount of PCOR Fee |
|---|---|
| February 1, 2020 – January 31, 2021 | $2.66/covered life/year |
| March 1, 2020 – February 28, 2021 | $2.66/covered life/year |
| April 1, 2020 – March 31, 2021 | $2.66/covered life/year |
| May 1, 2020 – April 30, 2021 | $2.66/covered life/year |
| June 1, 2020 – May 31, 2021 | $2.66/covered life/year |
| July 1, 2020 – June 30, 2021 | $2.66/covered life/year |
| August 1, 2020 – July 31, 2021 | $2.66/covered life/year |
| September 1, 2020 – August 31, 2021 | $2.66/covered life/year |
| October 1, 2020 – September 30, 2021 | $2.66/covered life/year |
| November 1, 2020 – October 31, 2021 | $2.79/covered life/year |
| December 1, 2020 – November 30, 2021 | $2.79/covered life/year |
| January 1, 2021 – December 31, 2021 | $2.79/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 2022 of the fee and additional information for filing and paying the PCOR fee with the IRS.
This document is designed to highlight various employee benefit matters of general interest to our readers. It is not intended to interpret laws or regulations, or to address specific client situations. You should not act or rely on any information contained herein without seeking the advice of an attorney or tax professional.