Form 720 and fee due July 31
We continually tell you that changes created by the Patient Protection & Affordable Care Act (PPACA) are often confusing and hard to decipher. For example, did you know that there is a new fee on Health Reimbursement Arrangement (HRA) Plans that ended between October 1, 2012 and December 31, 2012? And to make matters worse, the calculation of this new fee and the determination of which employees count can be extremely complicated.
Established by PPACA, the Patient-Centered Outcomes Research Institute (PCORI) is charged with examining the relative health outcomes, clinical effectiveness, and appropriateness of different medical treatments by evaluating existing studies and conducting its own. This Institute will be funded by employer-paid fees and fines for missed or late filing may be accessed!
Fortunately for you and your clients, TASC makes complying with this new regulation quick and painless. For a small fee we will take the mystery out of PCORI and make sure that Plans stay in compliance by providing the fee calculation, an IRS Form 720, and instructions for completing the form/remitting payment. (Clients of TASC’s AgriPlanNOW, BizPlanNOW and ERISAEdge services receive these PCORI services at no additional charge.)
Help your HRA clients avoid penalties and fines. Don’t delay; time is of the essence…completed form – with payment – must be mailed to the IRS and postmarked no later than July 31, 2013.
If you have any questions about TASC’s new PCORI service call 1-800-422-4661.
Of all the changes created by PPACA, few are more confusing than the rights and protections now offered to employees. This is compounded by the potential of significant penalties for failing to comply. Our benefits experts make the job of complying with these ever-changing regulations quick and painless. We will continue to monitor future mandates to keep you informed and to ensure your Plan remains in compliance with changes as they occur. TASC has you covered!