Form 720 Employer Group Health Plans

Form 720 is a United States Internal Revenue Service form that is typically submitted quarterly.  Businesses engaged in the sale of particular types of products must use the form to report the collection of... more +
Form 720 is a United States Internal Revenue Service form that is typically submitted quarterly.  Businesses engaged in the sale of particular types of products must use the form to report the collection of excise taxes. The Affordable Care Act made some revisions to Form 720 which relate to the payment of Patient-Centered Outcomes Research Institute (PCORI) fees. The revisions require sponsors of self-funded insurance plans to submit the form yearly to report and pay PCORI fees.  less -
News & Analysis as of

Are You Ready to Pay the PCORI Fee?

The Patient-Centered Outcomes Research Trust Fund fee is a fee imposed on insurance carriers of fully-insured group health plans and on plan sponsors of self-insured group health plans to fund the Patient-Centered Outcomes...more

Certain Employers That Sponsor Group Health Plans Must Report And Pay The Patient-Centered Outcome Research Institute Fee By July...

As previously mentioned in the June 11, 2013 edition of The Fast Laner, the Patient Protection and Affordable Care Act created the Patient-Centered Outcomes Research Institute (PCORI) that is to be partially funded through...more

Important Reminder Regarding PCORI Fees

An important deadline is looming under the Affordable Care Act (ACA) for employers that sponsor certain self-insured group health plans and issuers of certain health insurance policies. Under the ACA, employers and insurers...more

ACA’s “Pay-Or-Play” Penalty Delayed Until 2015

Last week, in a move welcomed by many employers, the Obama administration announced that it would delay implementation of certain key provisions of the Affordable Care Act (ACA) until 2015....more

ACA "Pay Or Play" Deadline Extension — What It REALLY Means

On July 2, 2013, the U.S. Treasury announced that the Obama Administration is implementing a one-year delay of the employer and insurer reporting requirements under the Affordable Care Act of 2010 ("ACA"). ...more

IRS Revises Form for Payment of Fee To Fund Patient-Centered Outcomes Research

The Internal Revenue Service (IRS) has issued an updated version of IRS Form 720 and the instructions. Self-funded group health plan sponsors and health insurers must use this form to report and pay the fee required to fund...more

New Affordable Care Act Fees Impact Group Health Plans in 2013 and 2014

On July 31, 2013, the first of various fees will be due that are imposed by the Affordable Care Act on self-insured group health plans and/or issuers of insured health policies providing accident and health coverage. Beyond...more

Employers Need to Plan Now for the Next Phase of Health Care Reform

Although most employers have implemented the initial phases of Health Care Reform as they became effective over the past couple years, many of them have taken a “wait-and-see” approach to the next phase of Health Care Reform....more

Navigating Health Care Reform: Health Care Reform’s New Research Fees: What Employers Need to Know

Now that the Supreme Court has upheld the constitutionality of the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act (collectively, the “Act”), employers must move...more

Self-Insured and Insured Medical Plans, Including Stand-Alone Retiree Plans and HRAs, Are Subject to $1 Fee per Covered...

The IRS recently issued a proposed regulation explaining a new fee imposed by the Patient Protection and Affordable Care Act (PPACA). For calendar year plans, the fee begins this calendar year and remains in effect through...more

Proposed Rules Released Implementing New Fees on Health Plans

The Affordable Care Act mandates that a fee be assessed on health insurance issuers and plan sponsors of self-insured health plans to fund the Patient-Centered Outcomes Research Institute. The IRS recently proposed rules...more

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