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Old 12-24-2013, 10:12 AM
 
Location: Great State of Texas
86,093 posts, read 70,269,098 times
Reputation: 27525

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Quote:
Originally Posted by KaraG View Post
This is from the hearing:

http://democrats.energycommerce.hous...2-2013-9-9.pdf

c. Income Verification

Eligibility for the advanced premium tax credits made available through the marketplaces
depends upon the applicant’s income. Additionally, the size of the tax credits and the
availability of cost-sharing reductions vary along with the applicant’s income. When applying
for tax credits or cost-sharing reductions, applicants will be required to input their projected
annual household income so that the marketplace can determine the amount of financial
assistance, if any, they are eligible for.

There are numerous protections in place to ensure that individuals only receive financial
assistance for which they are eligible. If the individual’s actual income makes them ineligible
for the assistance they received, the IRS will recoup excess payments when the individual files
his or her taxes. Additionally, when applicants provide information in their applications, they
attest under penalty of perjury that they are not providing false or fraudulent information. The
Affordable Care Act also sets out additional financial penalties if individuals negligently or
deliberately provides false or fraudulent information on their application.

In addition to these robust safeguards on the back-end, CMS also takes significant steps to
verify accuracy of the individual’s projected annual income during the application process.

When applicants submit projected annual household income to the marketplace, that information
is compared with IRS and Social Security data as well as current wage data in Equifax’s
database. If the information in these databases do not match up with the information provided by
the applicant, the Marketplace will request an explanation or additional documentation.


If Equifax data is not available for a given applicant, and the applicant’s attested income is
more than 10% below IRS or SSA data, and the individual cannot provide a reasonable
explanation of the discrepancy, the Marketplace will request additional documentation from the
applicant. CMS has said that while it will allow state marketplaces to request this additional
documentation from a statistically representative sample of applicants, the federal marketplace
will request additional documentation from 100% of applicants meeting this criteria.
___

I can't find any reference that HHS will not verify income or that the IRS will not require overpaid subsidies to be paid back. This is the only change I could find after the budget deal:

The only provision of the budget resolution that directly addresses the ACA requires the HHS Secretary to certify to Congress that the exchanges verify eligibility for premium tax credits and cost-sharing reduction payments consistently with the requirements of section 1411 of the ACA. By January 1, 2014, HHS must submit a report to Congress as to how the exchanges are verifying eligibility, and by July 1, 2014, the HHS Office of Inspector General must submit a report to Congress as to the effectiveness of the eligibility procedures and safeguards in place for preventing inaccuracies and fraud.
Who the heck is going to verify income you didn't earn ?
What a crock.
They can't do anything until 2015 when 2014 returns start coming in.

Oh yeah..you sign saying you're telling the truth.
Isn't that what they did with the lifeline cellphones ?
LOL..41% of those people that "told the truth" didn't qualify.
But no one went to jail and no one paid back any money did they ?

The IRS can't get blood from a stone can they ?
They are limited to deducting Obamacare money from refunds.

How do you verify "projected income" for next year ?

It's total BS here.
They had a ghost of a chance with verifying already reported income based on your 2012 tax returns.
That is hard data. That's what they should have done.

Equifax is going to verify "future" income with current data ?
What happens if the person loses their job say in April 2014.
Are they checking "wage data" every month ?
Will they stop subsidizing premiums and now that person not working has to pay the full amount ?
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Old 12-24-2013, 10:24 AM
 
Location: Tampa Florida
22,243 posts, read 14,816,303 times
Reputation: 4583
Quote:
Originally Posted by ntwrkguy1 View Post
When these 1 million visitors -- and honestly, there's no way I believe any numbers from ANYONE associated with this colossal train wreck -- see what their "total cost of ownership" is going to be, there's going to be a lot of really angry people.

Let's hope that the clusterf**k that is Obama....oops, Obamacare.....is enough to awaken the ignorant to the con game that is being foisted up on them. There is no defending the indefensible, and Obamacare is as indefensible as any shell game I have ever witnessed.
Actually it was closer to 2 million, but who's counting anymore. The ACA is well under way.
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Old 12-24-2013, 10:35 AM
 
Location: DFW - Coppell / Las Colinas
30,042 posts, read 34,756,670 times
Reputation: 36099
Quote:
Originally Posted by florida.bob View Post
Actually it was closer to 2 million, but who's counting anymore. The ACA is well under way.
Yes it is but that does not make it a good program.
The more that sign up the more will understand that it is a Tax and it will cost them over their old policies.

Wait until the Companies start forcing higher costs to their employees in 2014.
Obama is losing support and that trend is going to continue.
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Old 12-24-2013, 10:39 AM
 
9,132 posts, read 4,572,345 times
Reputation: 3738
Quote:
Originally Posted by florida.bob View Post
Actually it was closer to 2 million, but who's counting anymore. The ACA is well under way.
Whether it's closer to 1 million or 2 million, they are Visitors. How many bought insurance, and though it doesn't matter to you, how many will pay for what they bought.
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Old 12-24-2013, 10:46 AM
 
Location: Sonoran Desert
28,060 posts, read 38,091,187 times
Reputation: 17578
Quote:
Originally Posted by jazzarama View Post
Whether it's closer to 1 million or 2 million, they are Visitors. How many bought insurance, and though it doesn't matter to you, how many will pay for what they bought.
Given the last minute nature of the thing, one would expect the ratio of buyers to be quite high. We'll have to wait to see, though.
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Old 12-24-2013, 10:46 AM
 
Location: Alaska
6,307 posts, read 4,203,271 times
Reputation: 3719
Quote:
Originally Posted by Glitch View Post
As they have already amply demonstrated from the very beginning they are completely blind to any problems with the Affordable Health Care Act of 2010.
LMAO what an embarrassment

Obama Couldn’t Use Website To Sign Up For Obamacare « CBS DC
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Old 12-24-2013, 10:52 AM
 
Location: Great State of Texas
86,093 posts, read 70,269,098 times
Reputation: 27525
Quote:
Originally Posted by Crossfire600 View Post
And that goes to show you the calibre of the people they have writing the software.
Something like that staged to the public should have worked flawlessly.
And code could have been written to do just that.

I have worked on many projects where the code that was going to be shown to the public was "tweaked" to work flawlessly.

Only the government does foolish things like this without preparation.
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Old 12-24-2013, 11:01 AM
 
Location: DFW - Coppell / Las Colinas
30,042 posts, read 34,756,670 times
Reputation: 36099
Quote:
Originally Posted by Crossfire600 View Post
Somebody will be selling his social security number online before January is out.
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Old 12-24-2013, 11:59 AM
 
8,320 posts, read 3,508,806 times
Reputation: 1592
Quote:
Originally Posted by HappyTexan View Post
Who the heck is going to verify income you didn't earn ?
What a crock.
They can't do anything until 2015 when 2014 returns start coming in.

Oh yeah..you sign saying you're telling the truth.
Isn't that what they did with the lifeline cellphones ?
LOL..41% of those people that "told the truth" didn't qualify.
But no one went to jail and no one paid back any money did they ?

The IRS can't get blood from a stone can they ?
They are limited to deducting Obamacare money from refunds.

How do you verify "projected income" for next year ?

It's total BS here.
They had a ghost of a chance with verifying already reported income based on your 2012 tax returns.
That is hard data. That's what they should have done.

Equifax is going to verify "future" income with current data ?
What happens if the person loses their job say in April 2014.
Are they checking "wage data" every month ?
Will they stop subsidizing premiums and now that person not working has to pay the full amount ?
Time will tell:
Greatest ACA Burden for the Law-Abiding May Lie Ahead
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Old 12-24-2013, 12:07 PM
 
Location: Great State of Texas
86,093 posts, read 70,269,098 times
Reputation: 27525
Quote:
Originally Posted by Hoonose View Post
This is going to blow up..literally blow up.

I went on that other website and I would have gotten $6K in subsidies.
That is based on my income alone.
What if I sell stock ?
What about dividends and interest I get ?
What if I sell my home ?
I have more "income" than just my pension check but they didn't ask about that.


And I don't think they give you an option of taking a lesser amount do they ?
I don't think they are being on the conservative side here.
And I bet many aren't thinking ahead of what they will do financially next year.

They could have based it on your earnings from 2012.
That would have been more exact and less people will end up with a shock come April 2015.

And I just don't see how the IRS thinks they will fork back subsidies when they didn't have the money to begin with to pay the full premium.
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