The White House is rather pleased with its efforts during the second year of open enrollment for Obamacare. President Obama recently bragged that the number of Americans insured due to the exchange surpasses 11.4 million. But, that’s not exactly the truth. MSNBC,
And that 11.4 million enrollment figure? That’s largely overstated too, Avik Roy writes at Forbes. First, it’s cumulative; it represents the total number of those who completed applications and those previously enrolled. This year’s additions are also signups, not full enrollment, which commences when consumers pay the first monthly premium…
Also, that number does not mean that these Americans were all uninsured. Last year’s sign-up figure of 8 million – which decreased through the year – only included 3.8 million of previously uninsured Americans, according to research done by the Kaiser Foundation. Applying the same parameters and assumptions about retention, the total number of those gaining private insurance through Obamacare over the last two years only comes to 5.4 million, Roy concludes…
“Up to 6 million Americans are expected to pay a penalty for not having coverage in 2014, according to recent Obama administration projections,” Jason Millman reported, and “a lot of people who will have to pay don’t know it yet.” That’s more than the uninsured who gained coverage over the past two years, and will shock many who get stung for a fine that can amount to 2 percent of their taxable income.
Those who did have coverage still may run into trouble with their taxes. Taxpayers who buy individual coverage now have to get a new form, the 1095-A, to certify that they have suitable health insurance that meets the Obamacare individual mandate. If a taxpayer does not have insurance, they have to file a Form 8965 to see if a fine can be avoided.
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