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 ...
It would be a nice touch to learn that she donated to and voted for the perpetrator, twice!
Bingo.
The Exempt Ones don’t have to read what’s in it, but everyone else does.
“Take the King’s gold, play by the King’s rules.”
“Some 53% of Jackson Hewitt clients who received subsidies have to repay part or all of it”.”
The others are the 47% that Romney talked about.
Gee, that’s too bad.....
Turns out all that free stuff, isn’t so free after all.
I’m shocked I tell you, just shocked.
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