Happy Takings Day!
Liberals from around the country are popping corks and drinking deep
from the challis of ill-gotten gains. To
them, happiness is watching their neighbor get shafted by the taxman. You didn’t build that! You didn’t work for that! You didn’t earn that! Your marginal success couldn’t have happened
hadn’t you stolen it from a small-fisted progressive!
Some of these teat squawkers are choking on sour
grapes. The federal government vineyard
isn’t as bountiful, or as generous as once thought. Those who thought Obamacare was such a great
deal by forcing others to subsidize their health insurance, are finding out
those plans aren’t such a bargain after all.
"I wasn't very happy," said Mike Highsmith, 61, a
retired US Airways flight attendant who learned after having his taxes done
that he has to pay back every cent of the $6,624 in federal subsidies that
helped pay the lion's share of his HealthCare.gov-purchased plan.
"This shocked me ... I didn't know
this was coming."
Highsmith was one many Obamacare
financial-aid recipients in 2014 who didn't know their plans were being
subsidized.
"I was paying $89 per month and they [the federal
government] were paying $736," said Highsmith, who only learned about the
subsidy and its value when he received a 1095-A form from the IRS this year. He
said he wasn't told about the subsidy when he applied for insurance over the
HealthCare.gov telephone assistance line.
"I would have canceled it if I had
known that," he said, referring to the plan's retail price.
How could he have not known his plan was
subsidized? Where can you get an $89 per
month health insurance plan in the Age of Obama? Apparently, there a lot of shocked people
like this guy.
But about 50 percent of subsidized Obamacare customers will owe
money back, which will offset their tax refunds or wipe them out altogether,
according to a recent Kaiser Family Foundation report.
The US Treasury Department estimates
that most Obamacare customers will still get an income-tax refund, meaning they
won't have to cut a check to the IRS for repaid subsidies. A Treasury spokesman
said average refund is about $2,900, which would offset any repayment in most
cases
Obamacare: Shocking
Americans since 2010
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