Report: IRS Can't Verify Who Qualifies for Obamacare Subsidies
Tuesday, 09 Jun 2015 09:04 PM
The IRS cannot verify whether everyone who receives an Obamacare subsidy qualifies for it because a critical form needed for cross-checking a taxpayer's status has been delayed until next year, the Treasury's inspector general said Tuesday.
Americans with insurance through their employers do not qualify for the Affordable Care Act's subsidized coverage, The Washington Times reports.
When taxes are filed, the Obamacare exchanges are supposed to check filers' insurance status with similar forms filed to the IRS by employers and insurance companies.
But the Treasury Department, which oversees the IRS, delayed those forms to February 2016 to allow insurance companies and employers time to update their systems, according to the Times.
As a result, the agency did not have the information through most of this year's filing season — and will not have it until next year.
"Based on discussions with the federal and state exchanges, we determined that the majority of the exchanges cannot verify most individuals’ attestation that they were not offered health coverage by their employer, with the exception of those individuals who are eligible for a government plan" through programs such as Medicare, Medicaid or veterans benefits, the Treasury's inspector general said in a report quoted by the Times.
In addition, the IRS has not specified whether tax filers might be able to keep the Obamacare subsidies they receive during a 90-day grace period to address inconsistencies that appear on their applications for subsidized coverage, according to the report.
"As a result, these individuals continue to receive [the tax credits] until such time as the exchange finds the individuals to be ineligible," the inspector general's report said.
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© 2015 Newsmax. All rights reserved.Americans with insurance through their employers do not qualify for the Affordable Care Act's subsidized coverage, The Washington Times reports.
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When taxes are filed, the Obamacare exchanges are supposed to check filers' insurance status with similar forms filed to the IRS by employers and insurance companies.
But the Treasury Department, which oversees the IRS, delayed those forms to February 2016 to allow insurance companies and employers time to update their systems, according to the Times.
As a result, the agency did not have the information through most of this year's filing season — and will not have it until next year.
In addition, the IRS has not specified whether tax filers might be able to keep the Obamacare subsidies they receive during a 90-day grace period to address inconsistencies that appear on their applications for subsidized coverage, according to the report.
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