Posted on 02/07/2018 5:46:32 PM PST by jazusamo
The IRS overpaid nearly $3.5 billion in Obamacare tax credits last year that it cannot recoup because of constraints built into the program, frustrating Republicans who have failed to repeal the health care law but say that money could have been spent on programs for veterans or infrastructure.
A Treasury watchdog said the government paid out roughly $24 billion in Obamacare subsidies in the heart of the 2017 tax-filing season, with $5.8 billion in overages. Of that, just $2.3 billion was clawed back, leaving $3.5 billion in outstanding excess payments.
“The overpayments were that much?” said Rep. Phil Roe, Tennessee Republican.
He said he is trying to expand an assistance program for older veterans and their caregivers. “I can think of a lot of things I can use $3.5 billion dollars for,” he said.
Most Obamacare exchange customers receive taxpayer-funded subsidies to help cover their premiums.
The amount they receive is based on their expected earnings. At the end of the year, they are supposed to reconcile what they anticipated with what they actually earned. Because some received higher incomes — through raises, promotions or better jobs — they have to repay the IRS.
But authors of the 2010 law were afraid that the threat of a big tax bill would discourage people from buying Obamacare coverage altogether, so they set limits on the amount of money the government could claw back.
Those limits have been tweaked over the years because Congress feared it was giving away unearned money.
The $3.5 billion figure told lawmakers that they are still leaving a lot of money on the table. The 2017 figure is more than five times the number from 2015, which was the first tax year after Obamacare was fully operational.
(Excerpt) Read more at washingtontimes.com ...
Agree 100%.
Both parties are ready to foist ineligible candidates on us again in 2020.
There was no way to anticipate today’s mobile world, but they did the best they could by restricting the office to just those born here of citizen parents.
Children of foreign nationals are precisely who they aimed to exclude.
The Progressives have done their best to dumb down the populace so that any anchor baby is not considered eligible by far too many.
Even here on FR we have many who subscribe to the theory that anyone born to an American anywhere is a natural born citizen, even Anwar Al-Awlaki’s kids born in Yemen.
not=now
Yep, I still go berserk every time I think about Pelosi’s infamous stupid statement that we have to pass the bill to see what’s in it.
She’s an idiot as is every single Rat, they believed her and voted for it.
Just another back door giveaway program for Obama’s peeps
“Can’t” - actually, “won’t.”
Yeah. I don’t do health insurance. Under Obamacare I can sign up AFTER I’m sick.
p
it does not pay to be honest, to be ethical, to be a hard and diligent worker....
so its our DUTY to avoid paying taxes as much as legally we can....
if they can’t get it back form those who received the money they should get it back from the IRS workers who approved the overpayments - all of them from simple worker to head person.
These people want to work for corrupt entity like IRS they should be responsible for wrong doings.
It made me sick when obamam hired on so many extraIRS workers sooner after he got in office and they did very little work for couple years, probably many still do very little actual honest work, just collect pay check and benefits while stabbing the country in the back.
“if they can’t get it back form those who received the money they should get it back from the IRS workers who approved the overpayments - all of them from simple worker to head person”
—
The way I read this it is not the IRS employees that approved refunds,it’s the way the damned thing was written-——the people UNDERPAID for the insurance and now owe money.
.
ROE has a personal hatred on Veterans, don’t trust his word about helping them, especially Veterans in the VA Hospitals in Tennessee. Veteran Robert Rose JR is suing him. http://www.johnsoncitypress.com/Courts/2017/11/24/Marine-veteran-sues-VA-Medical-Center-over-opioid-tapering-policy
So would the $900 Billion for Illegals.
$7.2 Mil Medicare Fraud
https://patch.com/new-york/oysterbay/long-island-doctor-gets-13-years-7m-medicaid-fraud
Haddonfield woman gets prison for health-care fraud
http://www.philly.com/philly/news/crime/haddonfield-woman-gets-prison-for-health-care-fraud-20180207.html
Not just Tricare but Champus too. That small raise they got will get eaten by Champus/Tricare.
Killeen: TRICARE changes have providers, beneficiaries concerned
http://www.kwtx.com/content/news/Killeen—TRICARE-changes-have-providers-beneficiaries-concerned-473030303.html
Take it out of the IRS’ budget and return it to the people.
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