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JUNE 2013 EMPLOYEE BENEFITS ALERT REVISED IRS FORM 720 FOR PC ORI FEES On June 3, 2013, the Internal Revenue Service released the revised IRS Form 720, Quarterly Excise Tax Return, to add the temporary

How to fill out revised pcori fee form

How to fill out revised pcori fee:

1. Gather all relevant financial information and data related to your organization's health insurance plan.
2. Calculate the average number of lives covered by your plan during the plan year.
3. Determine the applicable filing fee for your plan based on the number of covered lives.
4. Complete the revised PCORI Fee Payment Form provided by the IRS.
5. Make sure to include all required information, such as your organization's name and Employer Identification Number (EIN), plan name and number, and the total fee amount.
6. Attach any necessary documentation or supporting materials, such as proof of payment or enrollment counts.
7. Submit the completed form and payment to the designated IRS address by the specified deadline.

Who needs revised pcori fee:

1. Employers who sponsor certain self-insured health plans, including self-insured health reimbursement arrangements (HRAs), are required to pay the PCORI fee.
2. Applicable large employers (ALEs) subject to the Affordable Care Act's employer shared responsibility provision may also be required to pay the revised PCORI fee, depending on the type and structure of their health insurance plans.
3. It is important to consult with a tax advisor or legal counsel to determine if your organization is subject to the revised PCORI fee requirements.

For pdfFiller’s FAQs

What is revised pcori fee?

The revised PCORI fee refers to the updated fee imposed on certain health insurance policies and self-insured health plans to fund the Patient-Centered Outcomes Research Institute (PCORI).

Who is required to file revised pcori fee?

Employers sponsoring certain self-insured health plans or health insurance issuers offering specified fully-insured health policies are required to file the revised PCORI fee.

How to fill out revised pcori fee?

To fill out the revised PCORI fee, employers or health insurance issuers must complete Form 720 and submit it to the IRS along with the appropriate payment.

What is the purpose of revised pcori fee?

The purpose of the revised PCORI fee is to provide funding for the PCORI, which conducts research to assist patients, clinicians, and policymakers in making more informed healthcare decisions.

What information must be reported on revised pcori fee?

The revised PCORI fee requires reporting the number of covered lives under the applicable health plans and calculating the fee based on the applicable rate per covered life.

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