Wrong Tax Form Sent to 800,000 Health Insurance Purchasers
Dino Lirios | | Feb 22, 2015 05:15 AM EST |
(Photo : REUTERS/Lucy Nicholson) A man explains ObamaCare at a health insurance enrollment event in Commerce California, March 31, 2014.
The Obama administration recently admitted that about 800,000 residents had received inaccurate tax forms from the health insurance they purchased from Healthcare.gov.
The administration spoke up last Friday to tell them that 800,000 people had received incorrect tax information. They added that this could delay these people from filing their tax returns this year.
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The erroneous information concerned the 1095-A forms that healthcare exchanges must send to individuals and families who have purchased insurance.
The form is supposed to show exactly how much money they had received in 2014 from the federal government to subsidize their health insurances.
These forms contain essential information that people need to fill out for the 2014 federal income tax return.
In 2014 at least, almost 5.4 million people have signed for health coverage through the government's Healthcare.gov. Most, if not at all, of those who signed up received subsidies that assisted them in paying for their premiums.
These subsidies are paid directly to the insurer to compensate what the customer would have had to pay for their premiums.
It is the government's responsibility to send out forms to each person who receives a subsidy. The error of the government will mean that the forms will have to be redone and resent to each of the concerned parties.
The reason for the error wasn't directly discussed. However, Andy Slavitt, the official who runs the operations of the Healthcare.gov site, said that it had to do with using the wrong "benchmark" premium to help determine the amount of subsidy received.
Last week, a similar problem was announced in California that affected 100,000 people. They reported that the incorrect information was sent as some customer data did not match the health plans they had on file.
Healthcare.gov officials are currently investigating the matter and hope to remedy it soon.
Tagshealthcare, Tax form, 1095-A, Insurance
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