Skip to comments.ObamaCare Enrollees Got $235 Million In Excess Subsidies
Posted on 09/04/2015 5:13:36 AM PDT by IBD editorial writer
An IRS audit released this week shows that nearly half a million ObamaCare enrollees were able to claim more than $235 million in excess subsidies that they will never have to pay back, thanks to a quirk in the law that leaves the program vulnerable to potentially billions in excess subsidy payments.
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Does any incompetent thing these ying yangs headed up by an idiot with communist african heritage surprise us any more.
To illustrate how the caps work, consider a family of four that enrolled in ObamaCare and guessed their income would be $40,000. That family would receive a subsidy of $7,980 for the year, according to a Kaiser Family Foundation subsidy calculator.
If it turns out that the family actually made $95,000, their subsidy should have been just $828, and they'd technically owe the difference $7,152 back to the government.
But because their actual income was less than 400% of poverty, the most they'll have to pay back is $2,500.
In other words, by underestimating their income, this family was able to leverage $4,645 in excess ObamaCare subsidies.