Yeah, you’re going to have to pay that back….

@SoDakCampaigns

From the Washinton Examiner:

H&R Block is estimating that as many as half of the 6.8 million people who received insurance premium subsidies under the Affordable Care Act benefited from subsidies that were too large, the Wall Street Journal reported Thursday.

“The ACA is going to result in more confusion for existing clients, and many taxpayers may well be very disappointed by getting less money and possibly even owing money,” the president of a tax preparation and education school told the Journal.

and…

But the subsidies are based on past tax returns, so many people may be receiving too much, according to Vanderbilt University assistant professor John Graves, who projects the average subsidy is $208 too high, the Journal reports.

Read it here.

Oops.

 

8 thoughts on “Yeah, you’re going to have to pay that back….”

  1. Come on now who listens to H&R Block? TurboTax is what the cool people use lol. But that is a bit of a kick in the gut to get a bill because the government can’t do simple math.

  2. This is not an oops. This is how the system was set up and has been explained all along.

    Of course, we could avoid the hassle and potential over-estimate of advance tax credits by adopting the far more rational single-payer system, or Medicare as a public option, or any system where access to health care would not be contingent on one’s wealth.

    1. No, it was not an oops. It was set up this way on purpose. The first step is to lure people into it unknowingly. Then once they are hooked, they have to look for a way to fix it. The only way liberal ideas make any sense is to make them so complicated a normal person cannot understand it. Yes, it was set up this way. How else can you get people to purchase something that is going to cost more than what it did before? So many people thought they were getting someone else to pay for a service. Now they are finding out they don’t get the free ride.

    2. The only thing rational about single payer systems is rationing.
      Of course it’ll never really be single payer. The wealthy will simply travel abroad for medical care, or keep private physicians on retainer.

  3. A friend of mine received a letter requiring him to supply proof of income for 2015 or risk losing the subsidy. In his particular case, that is not easy to estimate. This whole thing is a mess.

    On the other hand, Republicans need to be careful in how they approach this too. Take away these subsidies? Ouch. It isn’t going to happen.

  4. Yeah it’s the most horrible thing ever. Nobody is more horribler than Obama the evil one.

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