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ObamaCare Fines Increase

Posted By Administration, Tuesday, July 21, 2015


Like when we all played hide and seek as kids and it was time to bag it and go home the cry would go out. Olly olly oxen free. No penalty. Game over. Olly olly oxen free was given to non-participants of the Affordable Care Act in year one. If you didnt obey the law and participate, no problem


Year two was a much different story. Fines for not participating were handed out. In all 6.6 million were issued. Thats 10% more than the Obama administration said would happen and the fine was up to 1% of a persons total income.


That came to a whopping average of $190 says the National Taxpayer Advocate. Its the in-house ombudsman for the IRS. Of the people fined, 300,000 over paid by an average of $110.


No decision yet by the IRS as to whether checks will be issued for the overpayment or if theyll just issue credits.


Source link: Employee Benefit News

Tags:  Healthcare  HealthCare.gov  Insurance Content  Insurance Industry  Insurance News  ObamaCare  ObamaCare Fines Increase  The Affordable Care Act  Weekly Industry News 

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