Hundreds of thousands of Americans face a Tuesday deadline to verify their income and are at risk of losing or having to pay back their federal health-insurance subsidies under the Affordable Care Act.
The need for people to pay back the government could become a headache during next year's tax season, when Americans are expected to pay back any subsidies they weren't eligible for.
The Obama administration has told more than 300,000 individuals who obtained coverage through the federal HealthCare.gov site that they may lose some or all of the subsidies if they don't provide additional income information that jibes with Internal Revenue Service data. That information includes tax returns, wages and tax statements, pay stubs and letters from employers.
Hundreds of thousands of people who obtained health coverage through state exchanges also have documentation issues and could potentially be getting subsidies they aren't eligible for.
Enrollees whose income changed during the year but didn't update their information could also owe the government if they received larger tax credits than they were entitled to. The owed amounts could total thousands of dollars, health policy experts say.
"Most people don't know they even got advance tax credits," said Mark Ciaramitaro, vice president, health-care services at tax preparer H&R Block Inc. "They are going to be surprised and need to know what just happened, and a lot of people will be frustrated."Read the Rest of the story HERE and view a related video below:
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2 comments:
You mean I don't get free stuff after all? LOL< I hope these people get slammed by the IRS and cannot repay the money they stole. HAHAHAHAHAHA
OBAMACARE is a ZOMBIE
TEAM OBAMA is afraid to FULLY implement OBAMACARE
OBAMACARE is not fully DEAD nor fully ALIVE
_____________________________________
Americans want an intelligent and EXPERIENCED
LEADER who will put the country
in a more conservative direction,
one who will clean up the DEBT
and RESTORE our STRENGTH and ECONOMIC GROWTH.
V7_Sport writes on August 27, 2014
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Mitt Romney 2016 a real thing ?
Sign up @
www.MittRomney.com
Romney for President, Inc.
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JOBS and the Economy Gov. Romnney's EXPERTISE:
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Ascendant Mitt Romney
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Today America need LEADERSHIP attuned to
the REVITALIZATION of USA companies and opportunities.
Back in the 1980s, Bain Capital under
Mitt Romney was a spearhead of a massive national
movement of CORPORATE RESTRUCTURING.
The HIGH TAX RATES of the inflationary 1970s had
FORCED a deadening SIEGE of conglomeration
and corporate BLOAT and resulted in a catastrophic
60 % DECLINE in the REAL VALUE of corporate EQUITY.
This was the era of palatial new Corporate headquarters,
jet fleets, and lavish entertainment budgets
all serving INCOHERENT JUMBLES of
unrelated COMPANIES that had EQUITY worth less
than the sum of their parts.
Corporations often had either to SPLURGE or MERGE
to AVOID a suffocating CONFISCATION of PROFITS
through the interplay of INFLATION with
exalted TAX GOUGES, which could rise to
EFFECTIVE RATES above 100 % of real returns.
Conglomerates ARTFULLY COMBINED companies
nursing LOSSES with companies harvesting PROFITS,
thereby MUTING the impact of the DEADLY TAX REGIME.
………………………………………………………………..
But Ronald Reagan’s counter-inflationary supply-side
TAX policies, coupled with Paul Volcker’s
monetary contraction, made these
MORBID COMBINES DYSFUNCTIONAL.
They had to be dismantled and REORGANIZED for
a LOW-TAX, LOW-INFLATION regime,
kicking and screaming all the way,
and Mitt Romney was a KEY LEADER on the case.
This RESTRUCTURING campaign radically INCREASED
the VALUE of the ASSETS of USA Business.
The economic effects of a general RESTRUCTURING
that RELEASES CAPITAL for better uses, more jobs,
and higher VALUATIONS all across the economy.
Bain Capital successfully invest in entire companies,
which resulted in SHARP INCREASES in capital expenditures,
R & D, employment, and share value.
………………………………………………………
The American Spectator
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Mitt Romney on 2016: ’Circumstances Can Change’
www.rightspeak.net/2014/08/mitt-romney-on-2016-circumstances-can.html
……………………………………………………………………
Mitt Romney interview with Hugh Hewitt
www.rightspeak.net/2014/08/mitt-romney-interview-with-hugh-hewitt.html
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The Fed is prepared to PAY considerable amounts
of INTEREST to commercial BANKS to DISCOURAGE
them from MAKING private sector LOANS.
...........................................................................
WARNING that near-ZERO INTEREST RATES may be
FUELING asset BUBBLES while DIVERTING FUNDS
away from PRODUCTIVE Long-Term INVESTMENT
www.nysun.com/national/what-if-janet-yellen-is-wrong/88784/
_____________________________________
RATTLES this PONZI Scheme,
Life in America will Change RADICALLY Overnight
_____________________________________
The USA government is borrowing about 8 TRILLION Dollars
a year... The only way that this game can continue is
if the USA government can continue to
borrow gigantic piles of money
at ridiculously low interest rates.
And our current standard of living
greatly depends on the continuation of this game.
If something comes along and RATTLES
this PONZI scheme, life in America
could change RADICALLY almost overnight.
www.ZeroHEDGE.com/news/2014-09-30/if-something-rattles-ponzi-scheme-life-america-will-change-overnight
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www.ZeroHEDGE.com
www.RealClearPOLITICS.com
www.YouTUBE.com/BoomBustRT
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