A significant benefit of the Affordable Care Act is the opportunity
to receive money-saving tax credits up front to cut the overall cost of
health insurance, but now hundreds of thousands of consumers could owe
back some of that money next April.
Those affected took advance
payments of the premium tax credit for health insurance. Some married
couples could owe $600 or $1,500 or $2,500 or even more. It might feel
like a raw deal for some who are already suffocating under the
escalating costs of health insurance.
"Health insurance is
confusing enough, and now they're adding the complexities of the Tax
Code," said Lorena Bencsik, a member of the Michigan Association of CPAs
and owner of Prime Numbers in Ferndale.
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Pigs get fat, hogs get slaughtered...
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