Simple720: HIPAA Certified PCORI Fee Filing Solution

Simple720 is a IRS-Authorized web portal that offers Form 720 filing services, providing a simple way of reporting the PCORI fee while adhering to high security standards. 

Simple720 is now HIPAA compliant, in addition to being IRS-authorized and SOC 2 compliant.

The Health Insurance Portability and Accountability Act of 1996, commonly referred to as HIPAA, is an act passed at the federal level that protects the privacy and security of health information of individuals. The main reason for passing the HIPAA was to enhance the management of health information while also ensuring that standards were set to protect the privacy and security of Protected Health Information (PHI).

The regulation is overseen by the Department of Health and Human Services (HHS) via the Office for Civil Rights (OCR), which consists of several vital regulations regarding the management of health care information.

HIPAA applies primarily to:

• Covered Entities, such as:

• Health plans

• Healthcare providers

• Healthcare clearinghouses

• Business associates that perform some activities for covered entities with PHI.

The organization working with healthcare data can prove its HIPAA compliance through compliance programs, assessments, training, policies, procedures, and third-party HIPAA certification/verification programs.

HIPAA certification aids organizations in demonstrating their ability to apply the right security measures for protecting sensitive health care information.

The PCORI fee is linked with healthcare plans as it is levied on the applicable specified health insurance policies and self-insured health plans as per IRC Section 4376 and Section 4377. The PCORI filing information includes information about health care plans, covered lives, the employer, and payments for the completion of Form 720 Part II, IRS No. 133.

While HIPAA is not involved in the tax filing requirement, HIPAA-compliance pertains to safeguarding the sensitive healthcare information that would be processed through the filing.

In simple terms:

• PCORI regulations define what information must be reported to the IRS.

• HIPAA standards help protect healthcare-related information while it is collected, stored, and processed.

It is important for any firm to consider both the ease with which one can file and the security of the private information that is provided while filing.

The benefits that come with HIPAA-certified PCORI filings include:

1. Protection of Healthcare-Related Information

The PCORI reporting forms consist of healthcare plans-related information including

• Plan details

• Covered life counts

• Employer information

• Filing records

A HIPAA compliant environment deals with protection of healthcare information using proper security measures.

2. Stronger Data Security Practices

HIPAA requirements include controls for security like:

• Administrative safeguards

• Technical safeguards

• Access controls

• Data protection procedures

• Security policies and risk management practices

Using a portal that utilizes healthcare security controls minimizes the risks involved with dealing with confidential filing information.

3. Better Choice Than a Standard Filing Portal

Whereas a general filing portal may offer submission capabilities, the health care filing portal offers added considerations for:

• Healthcare data protection

• Secure information handling

• Compliance-focused processes

• Controlled access management

A more intelligent way for companies dealing with health care plan data is to choose a portal that is security and compliance oriented.

Simple720 uses IRS-authorized electronic filing options, coupled with security-oriented processes, to offer a dependable PCORI filing solution.

HIPAA Certified Security Practices

Simple720 has become a HIPAA-certified portal, reaffirming its dedication towards securing healthcare-related information involved in the PCORI filings process.

The benefit of such an option is that it gives companies extra reassurance that their sensitive filing information is being secured through health care information security standards.

IRS-Authorized Form 720 Filing Portal

Simple720 is an IRS-Authorized online portal for the submission of Form 720.

It provides a platform where businesses can use their electronic form to file their Form 720 if they meet the eligibility criteria using a platform that meets the IRS standards for electronic filing.

AICPA SOC 2 Certified Security Controls

Moreover, Simple720 complies with AICPA SOC 2 requirements for controls involving security, availability, processing integrity, confidentiality, and privacy.

The adherence to SOC 2 requirements shows that the security controls are measured according to certain industry standards.

Reporting PCORI fee involves accuracy, timeliness, and management of health care data. The filing of Form 720 for PCORI is made easy, secure, and reliable by Simple720 since it combines all the necessary requirements, including IRS authorized form 720 e-filing, HIPAA security standards, and SOC 2 controls.

Pay PCORI Fee online securely with Simple720 today!