Did you qualify for an Obamacare subsidy? Are you sure? Are you really sure?


The Obama administration is contacting hundreds of thousands of people with subsidized health insurance to resolve questions about their eligibility, as consumer advocates express concern that many will be required to repay some or all of the subsidies. 
Federal subsidies for the purchase of private insurance are a cornerstone of the Affordable Care Act. More than eight out of 10 people who selected health plans through the exchanges from October through mid-April were eligible for subsidies, including income tax credits. So far this year the federal government has paid out $4.7 billion in subsidies, and the amount is expected to total $900 billion over 10 years.
Since June 1, the government has notified hundreds of thousands of people that “the information in your application doesn’t match what we found in other records.” Accordingly, the notice says, “you need to follow up as soon as possible and provide more documents to make sure the marketplace has the correct information.” 


So .......................

What happens if your subsidy is disqualified and you can't pay it back?

Is your coverage cancelled retroactively?

Is your coverage rewritten?

Will you have to cancel coverage going forward because it is no longer ................. affordable?

UPDATE!
Testimony before House Ways and Means on the complexity of the Obamacare subsidy calculation and verification process.

Summation - The subsidy calculation process is too difficult for consumers, the tax system is too complicated and Obamacare will only make it worse, flaws in the process make it difficult if not impossible to verify leading to fraud.


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