{"id":24698,"date":"2015-01-02T17:32:28","date_gmt":"2015-01-02T22:32:28","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=24698"},"modified":"2015-01-02T17:32:28","modified_gmt":"2015-01-02T22:32:28","slug":"adding-to-the-confusion-of-obamacare","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=24698","title":{"rendered":"Adding To The Confusion Of ObamaCare"},"content":{"rendered":"

CNN<\/a> posted an article today about how the subsidies<\/a> paid to ObamaCare<\/a> subscribers are going to impact their taxes. No one told them this was going to be taxable!<\/p>\n

The article reports:<\/p>\n

Obamacare enrollees who received subsidies to help pay for coverage will soon have to reconcile how much they actually earned in 2014 with how much they estimated when they applied many, many months ago. <\/strong><\/p>\n

This will likely lead to some very unhappy Americans<\/a>. Those who underestimated their income either will receive smaller tax refunds<\/a> or will owe the IRS<\/a> money.<\/strong><\/p>\n

That’s because subsidies are actually tax credits and are based on annual income, but folks got their 2014 subsidy before knowing exactly what they’d make in 2014. So you’ll have to reconcile the two with the IRS during the upcoming tax filing<\/a> season.<\/strong><\/p>\n

Filing taxes has never been any fun–ObamaCare just made it worse.<\/p>\n

Subsidies were what kept the cost of ObamaCare down for subscribers:<\/p>\n

We’re not talking chump change. Those who applied through the federal exchange received an average monthly subsidy<\/a> of $264, according to the most recent figures reported by the Obama administration<\/a>. They only had to pay $82 a month, on average, for coverage, Roughly 85% of total enrollees received help with insurance premiums<\/a>. The administration last month said 2014 enrollment was 6.7 million.<\/strong><\/p>\n

Those who underestimated their earnings could owe thousands of dollars, though there is a $2,500 cap for those who remain eligible for subsidies. The threshold for eligibility is based on income – $45,900 for an individual and $94,200 for a family in 2014.<\/strong><\/p>\n

In June, the Supreme Court<\/a> is expected to rule on whether or not subsidies can be given in states that did not create healthcare exchanges. If the ruling says no, we can expect total chaos in the healthcare sector of the economy while everyone regroups. Meanwhile, the taxman cometh!<\/p>\n","protected":false},"excerpt":{"rendered":"

CNN posted an article today about how the subsidies paid to ObamaCare subscribers are going to impact their taxes. No one told them this was going to be taxable! The article reports: Obamacare enrollees who received subsidies to help pay … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1344,132,284,134,1733,468,6603],"class_list":["post-24698","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-cnn","tag-health-insurance","tag-internal-revenue-service","tag-patient-protection-and-affordable-care-act","tag-subsidy","tag-tax-credit","tag-tax-refund"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24698"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24698\/revisions"}],"predecessor-version":[{"id":24699,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/24698\/revisions\/24699"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}