As much research as Dr. Wagner does when it comes to Obamacare, she discovered some news she had not heard before. She came across a story titled IRS unable to make sure people comply with Obamacare penalty!! Wait a minute, I thought when people were getting their taxes done, there was a place on the tax return that people could mark whether or not they had health insurance. There was all this fuss about the 1095-As that were incorrect and people had to get corrected ones in order to file their taxes. The IRS and Obamacare Penalty will make you think twice about who is running things.
What is looks like is for those people who got health insurance off the exchange would be getting a 1095B and those 1095C from their employers were delayed a year. So not until 2016.
For those who have health insurance through their employers, this just seems like a waste of paperwork and administrative costs since the W-2 has an annotation regarding health insurance. Instead of streamlining the process, seems as if this would lead to more paperwork which could lead to more errors.
Remember for 2015 there was 800,000 incorrect 1095As from the Federal Exchange and then there was another 100,000 incorrect 1095As in California. There’s no telling if there were many more and it went unreported. Last time Dr. Wagner was doing some online research there are still some people who have incorrect 1095As. Granted the tax season ended on April 15 and they had to get an extension. Hopefully consumers will be able to get these issues resolved.
For those who did not have health insurance for the 2014 calendar year, the penalty was $95 per adult, $47.50 per child, $285 for a family of four or 1% of income. Of course the IRS would deem which was greater.
People are taking their time when it comes to deciding how they are going to take care of their health. What have you done? What steps have you taken in case a medical need arises?