The Internal Revenue Service (IRS) has released the adjusted Patient-Centered Outcomes Research Institute (PCORI) fee for 2021. As such, for plan years beginning on or after October 1, 2020 and ending before October 1, 2021, the adjusted fee will be $2.66 per covered life.
Annually, the fee must be reported on IRS Form 720 and filed by July 31. In 2021, based on the calendar dates, the PCORI payment will be due on August 2, 2021.
The Legal Update provides an overview of the recently released fee.
Contact your Cowden representative for more information on this or other compliance issues.