Monday, May 19, 2014

Over One Million Americans May Have Received The Wrong Subsidy Under ACA

By Coleen Elkins


Those that receive a premium subsidy from are doing so because their income allows them to receive financial assistance to obtain health insurance.

Imagine learning a couple years down the road you were "awarded too much" of a subsidy and now the IRS wants you to give it all back? What if you were also receiving a reduction in cost sharing such as a reduced deductible and you had high utilization of your benefits. Will you have to pay back the difference for that too?

Because of a computer glitch at that may very well be the case for hundreds of thousands of people that fall into the mix of over 1 Million people they suspect were calculated incorrectly.

How long will it take the government to calculate the error? They will begin this summer to manually work on the corrections.

Read more here