The Affordable Care Act (ACA) requires health insurance issuers and self-insured plan sponsors to pay Patient-Centered Outcomes Research Institute fees (PCORI fees) annually, using IRS Form 720. This update provides an overview of Form 720 and full payment of the PCORI fees, which are due by July 31 for plan years ending in 2024. [Get the whole PDF update here] Key details to keep in mind Annual filing: PCORI fees must be reported and paid using IRS Form 720, the Quarterly Federal Excise Tax Return. Upcoming deadline: For plan years ending in 2024, the payment and filing are due by July 31. Coverage period: Fees apply to plan years that ended during the previous calendar year. Who must pay: Both fully insured and self-insured group health plans may be subject to the fee, with filing responsibility typically falling on the employer for self-insured plans. Employers should review their plan year end dates and ensure timely compliance to avoid p...