The IRS has revised Form 720 (Quarterly Federal Excise Tax Return) to include the reporting and payment of Patient-Centered Outcomes Research Institute (PCORI) fees. As background, the Affordable Care Act (ACA) imposes PCORI fees on certain health plans and self-insured health plan sponsors for plan years ending on or after October 1, 2012 and before October 1, 2019.  The fees are to fund research to help patients, medical providers, policy makers, and health plans make informed health decisions by comparing clinical effectiveness research findings. The first PCORI fee deadline is July 31, 2013, for the reporting and payment of PCORI fees for plan years ending between October 1 and December 31, 2012. The revised form and instructions are available at the below links. For more information about PCORI fees, please see Fees For the Patient-Centered Outcomes Research Institute (PCORI) FAQs for Self Insured Health Plans and HRAs at hnetalk.com.

Instructions: http://www.irs.gov/pub/irs-pdf/i720.pdf

Revised 720 Form:  http://www.irs.gov/pub/irs-pdf/f720.pdf