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This Obamacare Flaw Could Give Taxpayers a $345 Million Windfall

Home/Healthcare News/This Obamacare Flaw Could Give Taxpayers a $345 Million Windfall

This Obamacare Flaw Could Give Taxpayers a $345 Million Windfall

by Dan Caplinger | The Motley Fool | August 30, 2015

This Obamacare Flaw Could Give Taxpayers a $345 Million Windfall

Sovereign Solutions Editor’s Note:

Our thoughts concerning Obamacare, otherwise known as the Affordable Care Act (ACA), is that such amounts largely to legalized plunder. An Obamacare flaw is an inevitability, because political economy is based on force, fraud, and coercion.

It just so happens that, yes, even plunder is available for the ‘small fries’ though. Perhaps that puts a bit of wind in your sails? 

Well, it probably shouldn’t.

How much do you lose before you even acquire, potentially, such a ‘windfall?’ In other words, do you consider that which is not seen as well as that which is seen?

Basically, the ACA ultimately benefits the biggest Liars, Looters, and Looters. All of the big insurance companies, for example, reap the rewards of various subsidies. They do not really care who pays, so long as payment is rendered regardless. 

Actually…they do care who pays. If it is not the underlying customer but instead a 3rd party payer, then, on average, there is greater opportunity to charge higher prices.

The unfortunate but quite predictable result of attempting to force solutions through political instruments is the litany of stated “flaws” that we end up hearing so much about.

Recent healthcare law permits and encourages inflated costs and attendant revenue streams for ‘the Big Boys.’ Such permits and encourages only apparent but quite unreal windfalls for you and me.

Such is the reality of this Obamacare ‘flaw.’ 

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One of the criticisms of the Patient Protection & Affordable Care Act, better known as Obamacare, has been how complicated some of its provisions are. When it comes to the subsidies that many Obamacare participants receive, that complexity could cost the government $345 million — and much of that money could go to the same taxpayers who did the worst job in complying with the healthcare reform law’s subsidy provisions in the first place.

IRS Commissioner John Koskinen reported to Congress last month that about 400,000 Americans received a total in $345 million in improper Obamacare subsidies. Whether those people made honest mistakes or deliberate took advantage of the complicated subsidy system to reap that extra money is unclear, but lawmakers seem reluctant to make a big effort to get the money back. Let’s take a look at the provisions of Obamacare that allowed this to happen and whether this problem will last into the future.

How Obamacare subsidies are supposed to work
One of the most important aspects of Obamacare in getting low-income Americans to participate was the financial help the law gave them on health insurance premiums. The law provides for subsidies for those who earned between 100% and 400% of the federal poverty level, with very specific amounts tied to the amount of income earned. Although the subsidy is treated as a premium tax credit under IRS jurisdiction, the federal government made provisions to pay out the subsidies in advance.

Since participants couldn’t know in advance how much income they would earn, Obamacare provided for people to make estimates instead. Participants were supposed to make those estimates using documentation like past-year tax returns or paystubs, and the hope was that for most people, incomes from year to year would remain relatively constant, and so any errors in the estimate would be small. Yet a study from the Kaiser Family Foundation earlier this year found that between 20% and 30% of families in the income range likely to receive Obamacare subsidies saw their incomes jump 20% or more over the course of 2014.

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Do you have any objections, thoughts, concerns, or contributions? I REALLY WANT TO KNOW. Help me to make this a conversation!

Together we can map out better solutions and truly navigate clearer paths towards quality services, low prices, and better lives.

Oh! And as always, if you find this post useful, do me and so many others a huge favor. When it comes to this kind of information: share and share alike! Information is meant to be disseminated wide and far.

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By | 2017-03-28T10:30:08-04:00 September 23rd, 2015|Categories: Healthcare News|Tags: , , , |0 Comments

About the Author:

My name is Matthew. I am founder of and manage Sovereign Liberty Solutions. I am a proponent of free, voluntary association and expression. I understand that there is no single exception or excuse to violate this with the initiation of force, fraud, and coercion. I welcome a genuine dialogue & seek information, news, analysis, and, of course, solutions, whether it be on the individual level or a more voluntary association [group] or even "national" one.

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