“The top executive for H&R Block, the nation’s largest tax preparer, on Wednesday said he expected President Obama’s health care law to add “significant complexity” to next year’s tax season.
Speaking on H&R Block’s quarterly earnings conference call, CEO William Cobb said that the company was already taking steps to train its tax preparers based on the draft forms that the Internal Revenue Service has released to comply with Obamacare.
“As expected, the forms are very detailed and can present significant complexity, depending on a filer’s coverage status during the year, income level, and household composition,” Cobb said. “Depending on their situation, there are instances where filers may need to file multiple new tax forms and complete additional worksheets.””
“The ObamaCare exchanges that opened for business last fall to disastrous consequence are expected to be largely improved with better technology and more insurance plans when they re-open next month, but critics are still raising concerns about consumer costs and choices.
The Department of Health and Human Services said in a preliminary report released Sept. 23 that the number of insurers has increased by 25 percent, which officials argue should lower premium costs through competition, in addition to offering customers more choices.”
“When President Obama was promoting passage of health reform, he promised that the average American family would save $2,500 a year on health insurance costs. But since the law passed in 2010, costs have risen by more than $5,000.
According a report by the actuarial firm Milliman, a typical employer’s family plan cost a total of $18,074 in 2010 and $23,215 in 2014 — counting employer, employee and out-of-pocket costs.
The Affordable Care Act is not more affordable for those with employer coverage and certainly not for taxpayers. A new study from Bloomberg Government found that the health law so far has cost taxpayers $73 billion — including $2 billion on the website.”
“The positive effect of ObamaCare on the economy has been “staggering,” President Obama argued Thursday during a speech at Northwestern University.
“There’s a reason fewer [Republicans] are running against ObamaCare — because while good, affordable healthcare might still be a fanged threat to freedom on Fox News, it’s working pretty well in the real world,” the president said.
The day after the anniversary of rollout of the Affordable Care Act’s exchanges, Obama argued that a “dramatic slowdown in the rising cost of healthcare” had led to more individuals being covered and prices staying lower.”
“The Supreme Court said Thursday it will decide whether private sector health care providers can force a state to raise its Medicaid reimbursement rates to keep up with the rising cost of services.
The justices agreed to hear an appeal from Idaho, which wants to overturn a lower court decision that ordered the state to increase payments.
A 2009 lawsuit argued that the state was unfairly keeping Medicaid reimbursement rates at 2006 levels despite studies showing that the cost of providing care had risen. A federal judge agreed, and the 9th U.S. Circuit Court of Appeals affirmed.”
“Who’s up for the latest batch of bad Obamacare-related news?
(1) Consumers brace for the second full year of Obamacare implementation, as the average individual market premium hike clocks in at eight percent — with some rates spiking by as much as 30 percent.
(2) “Wide swings in prices,” with some experiencing “double digit increases.”(Remember what we were promised):
Insurance executives and managers of the online marketplaces are already girding for the coming open enrollment period, saying they fear it could be even more difficult than the last. One challenge facing consumers will be wide swings in prices. Some insurers are seeking double-digit price increases…”
“In a decision with meaningful implications for the future of U.S. health reform, Swiss voters on Tuesday overwhelmingly rejected a proposal to replace their fully privatized health care system with a government-run, single-payer one. Why does this matter for Americans? Because efforts by both Democrats and Republicans to reform U.S. health care have been modeled after the Swiss system. Switzerland offers us a glimpse as to what a popular, market-oriented health-care system could look like.
Many Americans assume that all European countries have single-payer health care systems. That’s not true. They all offer universal coverage—in which health insurance is subsidized for all citizens–but only some of those countries, like the United Kingdom, actually have a system in which private insurers play no meaningful role, because the government serves as the sole insurance company (i.e., the single payer).”
“The majority of Americans who continue to oppose Obamacare should be greatly pleased to learn that the Supreme Court is likely to get a do-over on this misguided and too-often-lawlessly-implemented law. Ours is a nation of fresh starts and second chances: it is only fitting that SCOTUS be handed an opportunity to undo the convoluted, flagrantly political and highly controversial decision it made in June 2012. As eloquently detailed by fellow Forbes blogger Michael Cannon on September 30, “The U.S. District Court for the Eastern District of Oklahoma handed the Obama administration another – and a much harsher — defeat in one of four lawsuits challenging the IRS’s attempt to implement ObamaCare’s major taxing and spending provisions where the law does not authorize them.””
“Despite promises to the contrary by members of Congress and even the president, Americans now know that Obamacare is entangling tax dollars with coverage of elective abortion.
Last week, the Government Accountability Office released a report confirming that more than 1,000 Obamacare exchange plans cover elective abortion but remain eligible for taxpayer subsidies.
But that’s not the full story on how Obamacare funds the abortion industry.”
“In a legal setback for the Obama administration, a federal judge in Oklahoma ruled Tuesday that people in states that rely on the federal insurance exchange are not eligible for Obamacare premium subsidies to help them pay for coverage.
Judge Ronald White, a George W. Bush appointee, invalidated an Internal Revenue Service rule interpreting the Patient Protection and Affordable Care Act to allow the premium tax credits in states that have not established their own exchange. “The court holds that the IRS Rule is arbitrary, capricious, an abuse of discretion or otherwise not in accordance with law,” White wrote.
In his ruling, White rejected the argument that striking down the subsidies would cripple the entire healthcare reform law. “Congress is free to amend the ACA to provide for tax credits in both state and federal exchanges, if that is the legislative will,” he wrote.”