Posted on 09/04/2015 5:13:36 AM PDT by IBD editorial writer
An IRS audit released this week shows that nearly half a million ObamaCare enrollees were able to claim more than $235 million in excess subsidies that they will never have to pay back, thanks to a quirk in the law that leaves the program vulnerable to potentially billions in excess subsidy payments.
(Excerpt) Read more at news.investors.com ...
Does any incompetent thing these ying yangs headed up by an idiot with communist african heritage surprise us any more.
To illustrate how the caps work, consider a family of four that enrolled in ObamaCare and guessed their income would be $40,000. That family would receive a subsidy of $7,980 for the year, according to a Kaiser Family Foundation subsidy calculator.
If it turns out that the family actually made $95,000, their subsidy should have been just $828, and they'd technically owe the difference — $7,152 — back to the government.
But because their actual income was less than 400% of poverty, the most they'll have to pay back is $2,500.
In other words, by underestimating their income, this family was able to leverage $4,645 in excess ObamaCare subsidies.
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