Navigating ACA Tax Credits: ‘They’ve Had Me Jumping Through Hoops Without Actually Helping Me’
Santa Ana resident Kevin Foley was in for a surprise when he received an unexpected $800-plus bill from his insurance company. But that was just the start of his headache-inducing experience.
Orange County Register:
Obamacare Credit Turns Into Headache
Last year, Santa Ana resident Kevin Foley successfully enrolled in an Obamacare insurance plan, thanks in part to a popular tax credit that helps low-income earners afford plans through the exchange. The process for Foley, then a college student, appeared to be hurdle-free. But after a sudden increase in income and the arrival of tax season, Foley’s situation began to get messy. ...This marks the second year in which any financial implications of Obamacare have to be figured into your taxes – a meeting of two complicated systems that has produced a host of issues for involved parties, from the IRS to enrollees such as Foley. (Leung, 7/27)