“The Obama administration said last year that about 85% of enrollees received the subsidy and got an average tax credit of $270 a month.”
The only reason people were willing to buy the overpriced, poor value insurance, was that taxpayers were footing a major portion of the bill. How could our lawmakers have devised such an awful scheme, and then call it “health-care reform?”
A new automated system on the way should alleviate potential problems identified by federal oversight agency
By
STEPHANIE ARMOUR
Jan. 6, 2016 12:00 a.m. ET
The Obama administration wasn’t able to ensure that all tax-credit payments made to insurers under the health law in 2014 were on behalf of consumers who had paid their premiums, according to a federal oversight agency.
However, the agency noted the Obama administration this year is moving to a new automated system that should alleviate potential problems identified in its investigation. The Health and Human Services’ Office of Inspector General is scheduled to release the report Wednesday.
The findings raise questions about the oversight of tax-credit payments that went to insurers on behalf of consumers who qualified for financial assistance.
Tax credits are a major enticement to low- and moderate-income people who buy insurance on exchanges under the Affordable Care Act because they lower monthly premium costs. After consumers sign up for coverage, they can choose to have the federal government distribute the tax-credit payments to insurers to lower their premiums. Nearly $11 billion in tax credits were paid to insurers in fiscal 2014, according to a report by the Treasury Inspector General for Tax Administration.
The Obama administration said last year that about 85% of enrollees received the subsidy and got an average tax credit of $270 a month.
https://www.wsj.com/articles/health-law-tax-credit-payments-to-insurers-questioned-1452056400