Millions of Americans will have to repay some of their health insurance premium subsidy.
As Americans settle in to prepare their 2014 taxes, many are in for a costly surprise. People who
purchased health insurance through Obamacare’s health insurance exchange
marketplaces, and received a premium subsidy to assist with the cost of
coverage, must reconcile their 2014 actual income with the estimated income
number they provided in their applications.
For many Americans,
especially those who received a pay increase or who experienced a major life
event like marriage, these figures are different. That difference means
that millions of Americans must repay some of their premium subsidy back to the IRS. And the amount is significant. A recent Kaiser Family Foundation study found that the average repayment owed will be $794, while a small group of people could owe thousands of dollars
