Health law's insurance subsidies hold possible tax risk

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Apr 4 2013

The Associated Press reports on how people who take advantage of federal subsidies to buy insurance could owe taxes if they don't accurately forecast their income. It also offers a guide to eligibility.

The Associated Press: Health Care Subsidies Carry Tax Risk
Millions of people who take advantage of government subsidies to help buy health insurance next year could get stung by surprise tax bills if they don't accurately project their income. President Obama's new health care law will offer subsidies to help people buy private health insurance on state-based exchanges, if they don't already get coverage through their employers (4/3).

The Associated Press: Health Subsidies: How Much Do You Qualify For?
Starting next year, President Barack Obama's new health care law will offer subsidies to help people buy private health insurance on state-based exchanges, if they don't already get coverage through their employers. The premiums paid by taxpayers will be tied to their income, with the government subsidies making up any shortfall (4/2).

Also, a coalition of Minnesota groups launch a website to help consumers decode the health law --

MPR News: Health Website Aims To Help Minn. Consumers
A coalition of advocacy organizations has launched a new website to help Minnesotans understand how the federal health care law may affect them personally. The coalition includes the Minnesota Chamber of Commerce and the Children's Defense Fund - Minnesota. The Minnesota Council of Health Plans, the trade organization representing the state's health insurers, funded the interactive website. … The online tool is available at myhealthcarefuture.org (Stawicki, 4/2).

This article was reprinted from kaiserhealthnews.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.

Posted in: Healthcare News

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