Next OEP - Clawback / Income Projection NIGHTMARE

[sman]

Racism has NOTHING to do with the dislike of a politician - or his policies. It is getting very old and tired that when a American does not like or agree with Obamacare or like Mr Obama's position on any one of a dozen new policies they are suddenly "racist" - that is a HUGE cop out - many consumers do not want to be part of this government take over of the health insurance industry and for a person to suggest that shows they are "racist" is looking for a excuse - "you are racist" is the easiest path. My clients don't care if Mr Obama is black white or purple - they don't want anything to do with this massive social experiment called "Obamacare" - ACA or Health Bill - it costs them too much and it is punitive to personal and business success - you just took it somewhere else

Calm down, tater was just joking with you. He was mocking how everything is labeled racist when anyone disagrees with this administration.

 

[RayNY]

Racist against white people or black people? O'bama's 1/2 white and 1/2 black.

Racist against Hawaiians maybe?

 

[GreenSky]

Racist against Hawaiians maybe?

More likely racist against Kenyans.

Rick

 

[somarco]

Hope they have enough cash to pay for chemo upfront when the hospitals laugh at the Christian Ministry coverage. (I really hate these companies that prey on Christians and their distrust and hatred of Obama and Obamacare)

The tax fine is NOT the issue. Going without coverage is. Defined Benefit and Christian plans are not a responsible choice.

It's no laughing matter.

There is no guarantee of payment. Doctors, hospitals, etc are well within their rights to demand up front payment or a pledge of assets before going forward.

And I am NOT disagreeing with you. Your comments are 100% on point. Merely restating them for emphasis.

 

[Yagents]

Making more money sucks doesn't it? Long live Amerika

Obamacare took $729 bite out of tax refunds - H&R Block - Apr. 27, 2015

Sixty-one percent of those filers saw their refunds reduced by an average of $729 -- or a third of the group's overall average of $2,195, the consumer tax services provider said Monday.

 

[somarco]

Maybe the folks that designed ObamaKare were stoned.

Let's create a plan where a family of 4 earning less than $94k is considered poor and can qualify for premium assistance when they buy health insurance. To get the subsidy you must GUESS how much you will make next year. Guess wrong, we take back some of the money we LOANED you. But you won't know if you guessed wrong until you file your taxes, which you can't do until we send you a form.

Why does this remind me of Robin Williams talking about God getting stoned?

https://www.youtube.com/watch?v=nc2JBtrPpIk

 

[Yagents]

Well the numbers are in, and tells me a couple things:

#1 - you can decline your tax credit upfront, and really will get that APTC refunded at tax time.

#2 - 7 to 5 ratio of people under reporting income......sooprise.

132,570 filers collected PPACA premium tax credits when they filed their income taxes. They received an average of about $1,500 in premium tax credit help each for 2015.

525,760 APTC users told the IRS that they received too little APTC support in 2015. They received an average of about $3,040 in APTC help in 2015, and they asked the IRS to send them an average of about $400 in additional premium tax credit money each.

754,124 APTC users said they received too much APTC support in 2015. They received an average of about $3,050 in APTC support each, and they reported receving an average of $750 in excess support. A PPACA provision that limits how much excess support lower-income people have to pay back reduced the actual repayment obligation average to about $550.

194 weird PPACA tax credit claims found by watchdog | BenefitsPro

 

[RayNY]

I'm more curious how many people faced the penalties (both individuals and businesses).

If they have the data on subsidies with this much accuracy, surely, they have the data on how many people got penalized, the average amount, the total, etc.

 

[traceyemoon]

"#2 - 7 to 5 ratio of people under reporting income......sooprise."

I end up in a conversation with people about updating their income if it changes during the year. Usually they stop by or call and it only takes a few minutes to do it for them.

Unfortunately (not for them personally or financially), I have a few people who got shale gas payments and it bumped them into a new class so that they could upgrade the policy. What happened? Some carriers got as far as the disenroll notice for the previous policy and overlooked the enrollment into another policy. One for an August -Sept "gap" in enrollement just got taken care of 3 weeks ago.

The carrier stated that they got the info from the Marketplace and the Marketplace said that it was info from the carrier that they were disenrolled for non-payment. Carrier found the money, and miscommunicated with the Marketplace, who in turn, reported to the carrier incorrect info as well.

So, is it worth correcting it mid-year or letting them get the income wrong and cautioning them that they should expect the penalty?

Not going to address the folks that just plain exaggerate (lie, fib, etc) to get the tax credit & then b*tch when they have to pay.

 

[Yagents]

Rocking the apple cart mid-year is wrought with problems.