Exchange Plan Users Face Calls About 'inconsistencies'

[Yagents]

I would like to see the application I filled out to see exactly what it says on the part I check for 5 yr access but I can't find it. I know that Rep told me on the phone if I check it every renewal date the Marketplace would adjust my subsidies according to my tax return and checking it gave them permission to look at it. And I would not have to do fill out any info for 5 yrs. I guess everyone at the Marketplace isn't on the same page. U get a different answer from each person u talk to.

I suppose if I went into update or change my status I might find it but I didn't want to take the chance I accidently changed something.

The marketplace will be using past returns retroactively, and "assume" your income is the same for future tax year (which is what subsidy is based on), and adjust accordingly. If your income will remain steady from 14' to 15', then you can just run with what they tell you will be your subsidy. But, if YOU project it to be higher or lower in 15', YOU will need to go in manually and adjust it up or down. If your income will be the same in 2014, as it was in 2012/2013, then don't go into your account to make changes, as you will be risking an error. If income will be different in 14', then you are required to go in and adjust it through the "life change" button in your HC.gov account

 

[charly1954]

Then just use your expected line 37 income for 2014 if you don't have any of those other types of income. When you filled out the app and gave them permission to look at your taxes, you're right, it was for future tax years to determine future tax credits. And when you filled out the app at HC.gov, it did look at your 2012 tax filing (since 13' was not filed yet), and if there was any disparity, or a change of more than 10% in your income, it would "flag" it, and require you to send in proof of why you were projecting lower income.

Use this as a guide:

No, when I signed up it was april 2014 and I already had reported my 2013 returns. So they should have looked at my 2013 taxes, that is if they looked.

 

[Yagents]

U don't have to be self emplyed to not know, a factory worker, shoe salesman, walmart checkout girl, policeman, everyone has no idea what they will be makeing by end of 2014. They can only estimate.

And yes, I read somewhere if I estimate to low I MAY have to pay the overpayment back. EXAMPLE: With my income estimate say the Subsidies figures out $1,000/month. And if my income ends up higher than my estimate and the subsidies should have been $950/month. They can make me pay $600 overpayment back($50x12)

It's much easier for an hourly or salaried employee to forecast income than it is for someone who is in sales, with volatile commissions and unknown expenses and write offs.

There are caps on the clawback if in the lower income levels.
$600 if under 200% FPL
$1500 if under 300%
$2500 if under 399%
Unlimited if over 400%, for a family of 2, that number is $62,040

----------

No, when I signed up it was april 2014 and I already had reported my 2013 returns. So they should have looked at my 2013 taxes, that is if they looked.

I believe they were still using 2012 taxes into the April timeframe. I recently noticed the question is now........"do your expect your income to be the same as 2013?" , but that wasn't until after April sometime.

Too bad the gov't set up a system where you can't go back in and see an "app" that was filled out, or make any edits, or nothing.

 

[charly1954]

The marketplace will be using past returns retroactively, and "assume" your income is the same for future tax year (which is what subsidy is based on), and adjust accordingly. .....

I new I was right and that *** girl I argued with was wrong. I told her when I checked that 5 yr access thing, that it gave them my permission to look at my tax return records and she said no they can not look.

 

[Yagents]

I new I was right and that *** girl I argued with was wrong. I told her when I checked that 5 yr access thing, that it gave them my permission to look at my tax return records and she said no they can not look.

The reps don't have access to your tax returns. Period.

The "system" links up with the IRS system electronically, all automated.
Problem is, when they auto determine your subsidies for 2015 this December, they will be using your 2013 tax return, as you will not have filed your 2014 tax return yet. Essentially, it will NEVER be accurate or timely.

Anyone else want to pipe in, or am I the only one that knows this fricken law? Or is everyone else working? Buehler?

 

[charly1954]

It's much easier for an hourly or salaried employee to forecast income than it is for someone who is in sales, with volatile commissions and unknown expenses and write offs.

There are caps on the clawback if in the lower income levels.
$600 if under 200% FPL
$1500 if under 300%
$2500 if under 399%
Unlimited if over 400%, for a family of 2, that number is $62,040
.

My wife and I had an adjusted gross(line 37) of $27.075 in 2013 that we filed in April 2014, that puts us in the lower poverty level. The 2013 tax return is what the marketplace is supposed to look at to figure out my 2015 subsidies, right?

I believe they were still using 2012 taxes into the April timeframe. I recently noticed the question is now........"do your expect your income to be the same as 2013?" , but that wasn't until after April sometime.

I believe that questions was ask when I filled out the App in April, and I said yes the same as we made in 2013. When I filled out the App, it was past the tax deadline. I thought maybe end of April was my deadline to signup for obamacare cause I started in at the end of 2012 but didn't finish the App until April 2014.

----------

The reps don't have access to your tax returns. Period.

The "system" links up with the IRS system electronically, all automated.
Problem is, when they auto determine your subsidies for 2015 this December, they will be using your 2013 tax return, as you will not have filed your 2014 tax return yet. Essentially, it will NEVER be accurate or timely.

Buehler?

I didn't say the Reps had access, I meant when it come times to figure out my 2015 subsidies I gave Marketplace(or some computer) my permission to look at my tax returns. THAT GIRL REP said no, I knew she was wrong.

When they auto determine my subsidies for 2015, the estimation I put down was line 37 of my 2013 returns, so my esimation will be right on. Thats why it ticks me off I have to send in these documents. My estimation was $27,075, which was line 37 on 2013 taxes.

 

[Yagents]

My wife and I had an adjusted gross(line 37) of $27.075 in 2013 that we filed in April 2014, that puts us in the lower poverty level. The 2013 tax return is what the marketplace is supposed to look at to figure out my 2015 subsidies, right?

Correct...........................

----------

When they auto determine my subsidies for 2015, the estimation I put down was line 37 of my 2013 returns, so my esimation will be right on. Thats why it ticks me off I have to send in these documents. My estimation was $27,075, which was line 37 on 2013 taxes.

What was your line 37 AGI for 2012 tax return? That might give us insight into why they are asking for proof.

Also, you could be subject to the "random" checks that they did on 10% of the applications.

 

[charly1954]

What was your line 37 AGI for 2012 tax return? That might give us insight into why they are asking for proof.

Also, you could be subject to the "random" checks that they did on 10% of the applications.

line 37 for 2012 was $28,182. But if memory is correct, in the App they ask me to project or estimate what my 2013 income would be. Since I had already filed my 2013 return I new exactly what it was.

 

[Yagents]

line 37 for 2012 was $28,182. But if memory is correct, in the App they ask me to project or estimate what my 2013 income would be. Since I had already filed my 2013 return I new exactly what it was.

You must have been part of the "random" checks on income.

When the app asked, "will your income be the same as 2013 (or 2012), did you just mark "yes" or did you say "no" and manually enter your 2013 income numbers?

I can back into it, and figure out if they used 12' or 13' if you post:

Your zip code
Your birthdates
Your monthly tax credit amount that you were awarded

 

[charly1954]

You must have been part of the "random" checks on income.

When the app asked, "will your income be the same as 2013 (or 2012), did you just mark "yes" or did you say "no" and manually enter your 2013 income numbers?

I can back into it, and figure out if they used 12' or 13' if you post:

Your zip code
Your birthdates
Your monthly tax credit amount that you were awarded

I typed in my adjusted gross line 37 from 2013 somewhere in the App, think it was when they ask for a estimation of 2014 income. So I estimated my 2014 with my AGI from 2013.
I will just call them back tomorrow and explain to them I didn't finish the App until end of April 2014 so my estimation figure was AGI from 2013 returns. If they still say I need to send documents, I will.

No idea what a self employment ledger is but I'll find out. I assume it gross sales, cost of goods, cost of expenses and deductions. WHich my net profit would be on the 1st page of 2013 return, same with my rental net profit.