Morning Briefing
Summaries of health policy coverage from major news organizations
When It Comes To The Health Law And Taxes, Millions May Face Penalties
About 150 million taxpayers are expected to file returns during the coming tax season, said Mark Mazur, assistant secretary for tax policy at the Treasury Department. The tax-filing process this year is expected to be trickier because Americans will, in some cases, have to pay a penalty or get smaller refunds because credits they received to offset insurance premiums were too large. Up to 20% of tax filers鈥攐r about 30 million鈥攚ho weren鈥檛 insured for most or any of last year likely will request and receive an exemption from the penalty, officials said. Many exemptions can be applied for during the tax-filing process. (Armour, 1/28)
The Obama administration estimates that up to 29 percent of U.S. taxpayers could have to take the law known as Obamacare into account as they complete their 2014 income tax returns, officials said on Wednesday. (1/28)
An estimated 3 million to 6 million households that file 2014 income tax returns might incur penalties this tax season for failing to secure health insurance last year under the Affordable Care Act. Senior officials at the Treasury and Health and Human Services departments wouldn鈥檛 confirm the estimates during a telephone briefing Wednesday. They did, however, say that 2 percent to 4 percent of an estimated 150 million taxpayers are likely to be penalized. (Pugh, 1/28)
Two to 4 percent of taxpayers will end up paying a fine because they didn't have health insurance last year, federal health officials predicted Wednesday. This is the first year that Americans will have to worry about health insurance at tax time. The 2010 Affordable Care Act requires that just about everyone have health insurance or else pay a fee in the form of some extra income tax. (Fox, 1/28)
Up to one in five tax filers may claim an individual mandate exemption, and between two and four percent of taxpayers are likely to pay fines for not having insurance under Obamacare, a top Treasury official said Wednesday. (Dixon, 1/28)