On June 8, 2020, the Internal Revenue Service (IRS) issued Notice 2020-44, which increases the PCORI fee amount for plan years ending on or after Oct. 1, 2019, and before Oct. 1, 2020, to $2.54 multiplied by the average number of lives covered under the plan. It also provides transition relief for calculating the average number of lives covered under the plan or policy (which is what the PCORI fee is based on).

You can read our full legal update here. Directly below, you will find the most recent PCORI fee payment schedule based on plan year start date. For plan years ending in 2019, the next PCORI fee payment will be due July 31, 2020.

 

Payment Schedule

Plan Year                     Fee Per Average Covered Life       Due Date
2/1/18 – 1/31/19 $2.45 July 31, 2020
3/1/18 – 2/28/19 $2.45 July 31, 2020
4/1/18 – 3/31/19 $2.45 July 31, 2020
5/1/18 – 4/30/19 $2.45 July 31, 2020
6/1/18 – 5/31/19 $2.45 July 31, 2020
7/1/18 – 6/30/19 $2.45 July 31, 2020
8/1/18 - 7/31/19 $2.45 July 31, 2020
9/1/18 - 8/31/19 $2.45 July 31, 2020
10/1/18 - 9/30/19 $2.45 July 31, 2020
11/1/18 - 10/31/19 $2.54 July 31, 2020
12/1/18 - 11/30/19 $2.54 July 31, 2020
1/1/19 - 12/31/19 $2.54 July 31, 2020

 

If you have questions related to this update, please contact your North Risk Partners advisor. Don’t have an advisor? No problem. We’ll help you find one.

This regulatory update is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice.