Putting aside whatever one might think of the Affordable Care Act, - TopicsExpress



          

Putting aside whatever one might think of the Affordable Care Act, there is going to be significant confusion and anger once people start doing their taxes for 2014. Many people who estimated their income and took whatever subsidy was projected for their premiums are going to be shocked when they have to repay portions of that subsidy. For most people, it may only be a few hundred dollars, but we will hear stories about people who now owe the IRS thousands of dollars because they took a subsidy they werent eligible for, but on which they based their plan choice. It is too late now to go back in time and pick the cheaper bronze plan instead of the platinum plan they chose because they thought it was mostly free. I dont blame the people who took the subsidy, because it wasnt at all clear how the premiums / subsidies interacted. Look out. irs.gov/pub/irs-pdf/i8965.pdf#en_US_2014_publink10006647
Posted on: Tue, 20 Jan 2015 19:29:46 +0000

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