Health Insurance: Start filling out the forms now...
The Obama Administration quietly released a draft copy of its “single streamlined application” for Obamacare. This is the form that the government will use to certify eligibility for the program’s subsidies. The on-line version of that form requires 60 printed pages to spell out all the queries. (A condensed paper version of the same application fills 21 pages). Most families of four will have to answer about 1,000 discrete queries by the time they’re done. Some of the information you won’t have ready access to.
A battery of questions deals with estimating your income and that of your spouse. How many hours do you work each week? How much money do you get from self-employment or a one-time windfall from capital gains or inheritance? How much do you get from “farming or fishing income?” Certain things, including child support, veteran’s benefits, and Supplemental Security Income (SSI) can be excluded.
Be aware: If the total income you’ve entered comes in too low relative to the government’s prior estimates of what you earn, there’s a battery of questions to ferret out where you might have made a (ahem) mistake. Has your wages or salary recently been cut? Is anyone in your household a seasonal worker?
To ferret out errors, the electronic form will also look for discrepancies between your application for Obamacare and your most recent tax return.
We are doing our best to stay on top of it so we can be a reliable source of truth when so much is going to be up in the air over the next 2 years, at least.
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