Will Your Family Be Hit With Thousands in Obamacare “Clawbacks”?

Are you and your family set to receive a massive tax bill this year? If you are in the Obamacare healthcare exchange, it’s a possibility. And we’re not talking small change here…this could be thousands and thousands of dollars in “clawbacks”, or money that you’ve been given as a healthcare subsidy but must pay back in taxes.

[quote align=”” color=”#999999″]

Anyone who receives Obamacare subsidies could be in for a rude awakening this tax season.

Four in ten low-income Obamacare participants will face sticker shock this April 15 when they discover they owe a great deal of money to the IRS because of a little-known “clawback” provision in the health-care law.

A family of four could owe the government as much as $11,200, according to a 2013 prediction by researchers at the University of California, Berkeley.

The idea that struggling, low-income Obamacare enrollees would have to repay the government for subsidies has been a dirty little secret that has always been part of the Affordable Care Act.

[/quote]

About the Author: Eric M

Eric uncomfortably admits that until about 15 years ago, he was a political "free rider", always thinking that others would do the heavy lifting to keep America on course. After watching both democrats and republicans steer us FAR in the wrong direction, Eric knew he had to get involved. Now working with Richmond Tea Party to advance conservative principles, Eric serves on the Board of Directors and as a resource for "all things technology".