Obamacare offers subsidies to help pay for health insurance – if you are buying insurance through the federal exchange and your income qualifies. But now the word is out that at least 1 million people are probably getting the wrong subsidy amounts.
The Washington Post has inside sources providing all sorts of juicy details on this problem – but it didn’t take an investigative reporter to predict this was going to happen.
Heritage expert Alyene Senger warned that Obamacare’s subsidies are tied to income – and if your income changes at any point during the year, your subsidy is supposed to change, too. She explained in January:
if a person’s income fluctuates, which happens more frequently than many realize, the subsidy amount will change from month to month. Thus, when it comes time to file taxes in April, the amount of subsidy received over the past year must be reconciled with the final calculation of the total subsidy for which the individual was eligible—based on actual income for the entire tax year.