Study: Half Of Households Getting Subsidies May Have To Repay IRS
The analysis by the Kaiser Family Foundation also projects that 45 percent of households getting subsidies would receive refunds from the government after reconciling the tax credits with their 2014 income.
The New York Times:
Many Will Need To Repay Health Subsidies
Half of the households that received subsidies to help pay health insurance premiums last year under the Affordable Care Act will probably have to repay some of that money to the federal government, according to a new analysis by the Kaiser Family Foundation. The foundation also predicted that 45 percent of households that received subsidies will probably get a refund, because their 2014 income was lower than what they estimated when they applied for coverage. (Goodnough, 3/24)
Analysis: Half Will Have To Repay Health Tax Credit
Half of the people who received subsidies under the Affordable Care Act in 2014 will owe money to the government because they underestimated their incomes when applying for coverage and got too large a monthly premium credit, according to a new analysis from the Kaiser Family Foundation. (Villacorta, 3/24)
Kaiser Health News:
Tax-Time Tribulations: Health Law Complicates Filing Season For Many
This tax season, for the first time since the health law passed five years ago, consumers are facing its financial consequences. Whether they owe a penalty for not having health insurance or have to reconcile how much they got in premium tax credits against their incomes, many people have to contend with new tax forms and calculations. Experts say the worst may be yet to come. (Andrews, 3/24)
Meanwhile, a report underscores the role of premium subsidies and a Republican lawmaker eyes contingency plans if the Supreme Court strikes down federal exchange subsidies.
GAO: ObamaCare Subsidies Crucial For Expanding Coverage
The government's watchdog agency on Monday underscored the role of ObamaCare tax credits at a time when the Supreme Court could make them illegal in a majority of states. ... The tax credits reduced healthcare costs for millions of people, which “likely contributed to an expansion of health insurance coverage” in 2014, according to the nonpartisan study. The new research bolsters support for the Obama administration’s long-time assertion that tax credits are a central part of the healthcare law's success. (Ferris, 3/23)
Republicans Eye Budget Maneuver To Pass GOP Subsidies Fix
House Ways and Means Chair Paul Ryan says Republicans need to have a plan in place by June 20 to respond if the U.S. Supreme Court strikes down subsidies in up to 37 states. A ruling in the King v. Burwell case, which challenges the legitimacy of insurance subsidies in states that haven't established their own exchanges, is expected near the end of June. (Demko, 3/23)