Some Californians being moved to Medi-Cal
Posted: September 17, 2014
According to a September 9th article in the Sacramento Bee, some people who bought insurance through Covered California are now being transitioned to Medi-Cal without much warning due to income verification that Covered California is currently doing. There is no estimate of how many people are affected, but according to the article, even some people who don't qualify for Medi-Cal have been moved. Medi-Cal is...
Tax credits and filing requirements
Posted: September 15, 2014
Did you know? If you received a tax credit to help pay your 2014 insurance premiums, you have already agreed to file your 2014 taxes by April 15th. And... If you received a tax credit you will be required to complete an IRS 1040 form instead of the 104o-EZ form you may be used to filing. ...
IRS Releases Draft Tax Forms on Health Care
Posted: July 26, 2014
Thursday the IRS released drafts of the forms employers and individuals will use to report on health coverage for 2014. The forms begin to answer questions we've had about how the federal government will reconcile an individual's estimated 2014 income and Advance Premium Tax Credit eligibility. The forms also begin to address the issue of reporting on employer sponsored health coverage. Many questions remain, and...
Obamacare Tax Credit Fraud
Posted: July 24, 2014
The Ways and Means Committee has been reviewing the federal health exchange and they're uncovering some disturbing problems, including the ability of people to fraudulently sign up for tax credits. While the report in this article does not specify issues with Covered California (California's health exchange), it is, in our opinion, highly likely that California is experiencing the same issues. Link to Article on Ways...
Covered California and Your Health Care Tax Credit
Posted: May 7, 2014
Although the Open Enrollment for Covered CA is finished, important details continue to emerge with regard to the tax credits many are receiving. Here is some useful information, and links to important tools to help you understand your obligations under the law. Important Links: IRS Facts About the Premium Tax Credit Covered CA Frequently Asked Questions about Tax Credits U.C. Berkeley Modified Adjusted Gross Income...