Posted on 02/14/2015 9:06:30 AM PST by Rusty0604
Janice Riddle got a nasty surprise when she filled out her tax return this year.
The Los Angeles resident had applied for Obamacare in late 2013, when she was unemployed. She qualified for a hefty subsidy of $470 a month, leaving her with a monthly premium of $1 for the cheapest plan available.
Riddle landed a job in early 2014 at a life insurance agency, but since her new employer didn't offer health benefits, she kept her Obamacare plan. However, she didn't update her income ...
Now, she has to pay back the entire subsidy, which is forcing her to dip into her savings.
Early data is in from some tax preparers. Some 53% of Jackson Hewitt clients who received subsidies have to repay part or all of it, with the largest being $12,000, said Mark Steber, chief tax officer. The rest overestimated their income so they are getting even larger refunds.
Erica Cherington, 32, was "very happy" to enroll in Obamacare last year so she could address some health issues. She only had to pay $89 a month for a Horizon Blue Cross Blue Shield plan, thanks to a $284 monthly subsidy. She let herself be automatically re-enrolled for 2015.
During 2014, however, the Newark, N.J., resident landed a new job with a higher salary. Now, she has to pay back $600 of her subsidy.
To avoid this happening again, Cherington called the federal exchange to update her income, which she hadn't done when she changed jobs. Her revised monthly premium: $156 a month.
A case manager who handles disability payments, Cherington is now considering dropping her coverage and paying the penalty instead.
"It's not really affordable," she said of her new premium. "I don't know if I'll be able to keep it."
(Excerpt) Read more at money.cnn.com ...
They probably don’t know that they have to pay back and won’t do so either.
“We should go to fee for service for medical care, with insurance only for catastrophic.”
Exactly. That is the whole meaning of the word “insurance”. Does car insurance pay for oil changes? Does homeowners insurance pay for minor home maintenance?
Yup - Boo Hoo
Well, it could be worse.
She could be in a Cage in Iraq being paraded through the Streets knowing that her ISIS Captors will be burning her alive.
Now, back to the Obamacare Sob Stories...
I checked out the cost on the CA Exchange. I would save about $450 a Month, but if we made a dollar over $62,000 BEFORE our Itemized Deductions, you pay it all back.
Wasn’t worth even considering. The cost of a comparable Plan before the Subsidy is the same as I’m paying now, $1,900 a Month (with Dental and Vision Coverage).
I am still waiting for my $2,500 Obama Check, but I have a better chance of getting a autographed Selfie from Obama.
Free money is never free.
I think your subsidy is not really a subsidy, but more of a tax credit. You will pay as much or more as before, just less upfront.
Correct me if I’m wrong.
I hate this m********ker.
And no politician's promise is worth anything.
Same advice they gave Flounder: “you blanked up, you trusted them”
Before I get all teary, I’d like to know who these people voted for. But that’s just me.
what a Piece of $hit the POTUS is.!
> We should go to fee for service for medical care, with insurance only for catastrophic.
Right on!
De-cartelize the market and the price of routine care will decrease
Exactly. These people stole from the American taxpayer. They should be prosecuted (I know they won’t but a girl can dream.)
Obama giveth and Obama taketh away , with interest
There are some income-change cases that aren't so clear cut. For example: a relative loses her job and moves in for six months. She pays half the utilities but no rent. Has your family unit income changed? It could because of imputed rent payments, according to the IRS.
How about if your 21 year-old son moves back in, pays no rent or utilities, works occasionally and goes to school and has school health insurance? If you do or can claim him as a dependent then yes, your income has changed due to his wages.
This happened to my daughter and I guarantee she didn’t vote for Obama. She did not ask for a subsidy and her hourly wage has not increased. If you did not project your income for the year exactly, this is what happens. My daughter probably had some overtime not figured in and that triggered paying back the subsidy. She makes $9 an hour (but she is in the RN program and things will get better). Many people will be shocked when they go to do their taxes this year. Not all voted for Odumbo.
There are alternatives to Obamacare. For example, the Christian medical sharing ministries fall under the same exemption as the Amish and those other groups that consider insurance gambling.
Alternatives to Obamacare
http://tamarawilhite.hubpages.com/hub/Alternatives-to-Obamacare
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