Dreaded Tax Season To Get Even Worse For Obamacare Insured

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By Grace-Marie Turner

H&R Block estimates that up to half of Americans who received subsidies for health insurance under the ACA last year will owe the IRS money.

An estimated 87% of those who signed up for health insurance on the new exchanges got subsidies to reduce their health insurance premiums and sometimes their cost-sharing expenses.  An assistant professor of health policy at Vanderbilt University, John Graves, calculates the average subsidy was $208 too high.

But these taxpayers face yet another cost.  Many of them are accustomed to filing the simple 1040EZ tax form.  No more.  Most will have to retain tax preparers to help them fill out the new Form 8962.  That could cost them several hundred dollars.

 

Read more via:  Dreaded Tax Season To Get Even Worse For Obamacare Insured.

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